GCI
Gannett Co., Inc.NYSE
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  • Fri, Nov. 4, 1:44 PM
    • Tronc (TRNC +0.3%) Chairman Michael Ferro says there's room for "a different type of deal" with Gannett (GCI +4.1%), all in the immediate stock-shaking aftermath of Gannett walking away from a hostile bid for the publisher.
    • Discussions broke down on speculation that an $18.75/share price bid wasn't enough for Ferro, though the two companies were reported to have largely agreed on that price. Tronc shares have dropped 20.5% since Tuesday to $9.57.
    • Ferro said Gannett ended the deal after running into "an unexpected delay" in financing. Last week it was reported that banks were withdrawing funding for the takeover. But Gannett says that several financing options were available.
    | Fri, Nov. 4, 1:44 PM | 1 Comment
  • Tue, Nov. 1, 9:13 AM
    | Tue, Nov. 1, 9:13 AM
  • Tue, Nov. 1, 8:40 AM
    | Tue, Nov. 1, 8:40 AM | 1 Comment
  • Thu, Oct. 27, 3:01 PM
    • Tronc (TRNC -21.1%) and Gannett (GCI -14.1%) are diving together, on a Bloomberg report that a Gannett pursuit of Tronc is in doubt with banks reportedly withdrawing funding.
    • Tronc shares had just moved up Tuesday on a report that Gannett was eager to get a deal done before Gannett's earnings today (didn't happen).
    • Gannett has undergone a hostile pursuit for Tronc through the year, but recent reports had backchannel negotiations that got the acquisition price closer to $18.75/share. Tronc's at $13.43 and slipping.
    • Several lenders have withdrawn, Bloomberg says, over concerns about the health of both businesses at the $18.75/share valuation for Tronc. But the companies are reportedly working to try to salvage the deal.
    • Gannett stock has been declining through the day after its profits missed expectations.
    | Thu, Oct. 27, 3:01 PM | 6 Comments
  • Thu, Oct. 27, 8:34 AM
    • Gannett (NYSE:GCI): Q3 EPS of $0.06 misses by $0.15.
    • Revenue of $772.3M (+10.1% Y/Y) beats by $20.24M.
    • Press Release
    | Thu, Oct. 27, 8:34 AM
  • Wed, Oct. 26, 5:30 PM
  • Tue, Oct. 25, 7:47 PM
    • Tronc (NASDAQ:TRNC) finished up 3.7% today as the New York Post suggests that Gannett (NYSE:GCI) wants to get an acquisition of the former Tribune Publishing completed before Gannett reports its earnings -- a deadline coming up fast, as that's set for before the bell on Thursday.
    • Gannett fell 4.8% today for its part, following news that it planned layoffs of 2% of its workforce nationwide.
    • Gannett launched an unwelcome pursuit of Tronc (owner of the Los Angeles Times, Chicago Tribune and nine other daily papers) earlier this year, but even amid hostile-sounding press reports, the companies were reported to be engaged in backchannel negotiations over price.
    • Multiple reports place the bid for Tronc around $18.75/share, while Tronc chief Michael Ferro was said to be holding out for $20/share. Tronc closed today at $16.95.
    | Tue, Oct. 25, 7:47 PM
  • Mon, Oct. 24, 1:17 PM
    • Gannett (GCI +0.9%) will lay off about 2% of its workforce in a continuing effort to manage costs.
    • That will come across the company, including at its Virginia headquarters, and most employees will be told by tomorrow, with the cuts done by the end of the week.
    • The move also comes as Gannett pursues its latest acquisition, of Tronc (the former Tribune Publishing, owner of the Los Angeles Times, Chicago Tribune and nine other daily papers).
    • The company employs 18,700 overall.
    | Mon, Oct. 24, 1:17 PM | 4 Comments
  • Thu, Oct. 20, 6:57 PM
    • The USA Today Network at Gannett (GCI -3.6%) is launching the first weekly virtual reality news show, it says.
    • The show -- called VRtually there -- will come out Thursdays at 2 p.m., look to take a newsmagazine format and, notably, provide "new advertising opportunities for brand partners" with the "cubemercial," a VR ad unit.
    • The first cubemercial goes to the show's premiere sponsor, Toyota, along with 60 seconds of branded content featuring the carmaker's Camry.
    • Content will be available in the USA Today app, the VR stories app and at YouTube.
    | Thu, Oct. 20, 6:57 PM
  • Wed, Oct. 12, 4:29 PM
    • Gannett (NYSE:GCI) declares $0.16/share quarterly dividend, in line with previous.
    • Forward yield 5.79%
    • Payable Dec. 19; for shareholders of record Dec. 5; ex-div Dec. 1.
    | Wed, Oct. 12, 4:29 PM
  • Wed, Oct. 5, 5:01 PM
    • Gannett (GCI +0.3%) has acquired Golfweek, the latest in a growing string of purchases for the national newspaper publisher.
    • The company will place Golfweek in its USA Today Sports Media Group, with a goal to "accelerate Gannett’s efforts to be a leader in the golf vertical by adding Golfweek to For The Win! Golf and USA Today Golf and the Network's more than 5 million unique monthly avid golf fans."
    • Golfweek has produced event programs for some of the sport's biggest tournaments, and USA Today Sports Media Group is an official media partner of the PGA Tour.
    • Its headquarters will remain in Orlando, Fla., but it will have offices in New York, Los Angeles and at Gannett HQ in McLean, Va.
    | Wed, Oct. 5, 5:01 PM | 3 Comments
  • Tue, Oct. 4, 3:37 PM
    • With a buyout deal supposedly imminent yesterday, Gannett (GCI +0.4%) and publisher Tronc (NASDAQ:TRNC) are said to have bridged their differences on Tronc's value.
    • A few key details mean the deal's not close, though, Bloomberg reports. Gannett is also reportedly in talks to raise financing from Jefferies Group.
    • A deal after months of hostility would be the latest in a string of acquisitions for Gannett, including Journal Media Group (publisher of the Milwaukee Journal Sentinel) and the North Jersey Media Group (publisher of the Herald News and The Record).
    • Earlier offers for Tronc (then Tribune Publishing) of $12.25/share and $15/share were rebuffed; the two sides are reportedly in line at $18.50-$19/share. TRNC is holding steady at $17.49 today.
    | Tue, Oct. 4, 3:37 PM
  • Mon, Oct. 3, 9:25 AM
    • Tronc (NASDAQ:TRNC) -- the company formerly known as Tribune Publishing -- is up 3.7% on reports that a confirmed deal to be bought out by Gannett (NYSE:GCI) could arrive this morning.
    • Gannett has been rejected multiple times in its acquisition hunt, but elected to continue on an unfriendly basis. But Politico reports that asset purchase agreement drafts have been exchanged between the two.
    • And Tronc held a meeting Thursday that was likely focused on the sale.
    • The new bid is likely at $18.50-$19/share, Politico says, only slightly higher than the quietly raised offer said to be in the mid-$18 range at the end of August. Tronc is quoted at $17.50 this morning after closing at $16.88 Friday.
    | Mon, Oct. 3, 9:25 AM
  • Fri, Sep. 23, 1:45 PM
    • Dallas Morning News owner A.H. Belo (NYSE:AHC) is up 13.8% now after a report from the New York Post that acquisitive Gannett (GCI +1%) is considering a buyout offer.
    • Sources told the Post that such a deal wouldn't affect overtures by Gannett to buy Tronc (NASDAQ:TRNC), the former Tribune Publishing. Belo has about a $150M market value and Gannett could still pay $1B for Tronc.
    • Gannett has scheduled a special board meeting for next week, a source told the Post.
    • Any sale would likely need to convince not only Belo Chairman/CEO James Moroney, but bigger stockholder Robert Decherd (Moroney's cousin), as well as Decherd's sister Dealey Herndon.
    | Fri, Sep. 23, 1:45 PM
  • Wed, Sep. 14, 5:43 PM
    • Having closed in July on its acquisition of the North Jersey Media Group, Gannett (GCI -0.7%) is now laying off more than 100 of that unit's employees.
    • The company says the moves are necessary to preserve the financial sustainability of the group.
    • Gannett's Tom Donovan says layoff notices are going out to 426 company employees this week; of those, more than 200 newsroom employees and about 60 in sales will remain with the company.
    • The North Jersey Media Group publishes The Record (Bergen County), the Herald News, a group of community newspapers and NorthJersey.com.
    | Wed, Sep. 14, 5:43 PM
  • Tue, Sep. 13, 6:41 PM
    • Gannett (NYSE:GCI) has led a series C investment round in digital media firm Digg, with an eye toward leveraging its data sources and curation.
    • Digg, once a key Web content aggregator, has begun using proprietary data to start integrations with such platforms as Facebook Messenger and Slack. Gannett will supply local content from its USA Today Network to aid "personalization and geo-targeting content" for its users.
    • Gannett's amount is said to be in the seven-figure range.
    • Digg has a Web, mobile and social audience of 40M/month; USA Today Network claims more than 100M unique digital visitors each month.
    • Meanwhile, USA Today Network says it's investing in video, starting with three new positions focused on distributing video content across several of its verticals. Former Yahoo Studios chief Russ Torres will join as VP of digital video content and strategy Sept. 26.
    | Tue, Sep. 13, 6:41 PM