Tue, Feb. 24, 3:04 PM
Fri, Feb. 20, 9:37 PM
- Graham Holdings (NYSE:GHC) -- the former Washington Post Company -- was up 3.7% at the open and easily crested the $1,000/share mark again, following its Q4 earnings, before giving back all of the day's gains by midday.
- Education revenues from Kaplan operations ($551.4M, nearly flat) still made up the bulk of its $925.3M in revenues, but particularly strong were revenues in TV broadcasting, up 20% to $102.4M (aided by political ads in a midterm election year). Operating income in broadcast was up 24% to $54.4M.
- Revenue from "other businesses" (which includes digital-heavy publishing operations like Slate, Foreign Policy, The Root) more than doubled to $73.8M, from $30.7M.
- Seems like unloading The Washington Post to Jeff Bezos made the rest of the business great, Benjamin Freed says. He notes that now-GHC shares opened at $560.14 that summer 2013 day, headed to $584.97 that week and it's been a "robust trajectory" ever since. From the time of the sale, shares are up 83% vs. the S&P's +22%.
- Other companies are doing the same, he notes: See News Corp. (NASDAQ:NWSA) splitting off Twenty-First Century Fox (FOX, FOXA); Tribune Media (NYSE:TRCO) dropping publications into Tribune Publishing and thriving as a broadcast/real estate company; and Gannett (NYSE:GCI), which plant to spin off USA Today and its dailies.
- Q4 earnings; press release
Tue, Feb. 3, 10:17 AM
- The New York Times Co. (NYSE:NYT) is up 5.9% on news of its Q4 earnings beat.
- Digital ad growth of 19% is seen as encouraging as the company wrestles with slipping print advertising revenue.
- News peers are also trading higher today: (GCI +2.8%), (SSP +2.9%), (LEE +3.4%), (AHC +2.5%).
- The NYT conference call comes up at 11 a.m.
Tue, Feb. 3, 8:50 AM
- Broadcast and Digital were strong areas leading Gannett (NYSE:GCI) to an earnings beat in Q4.
- EPS of $1.02 was up 55% Y/Y and overall revenue grew 24%. Broadasting revenue increased 117% (25% pro forma) to a record $495.3M; Digital revenue rose 77% (10% pro forma) to a record $345.4M.
- Adjusted EBITDA was up 57% Y/Y.
- The Digital segment was boosted by acquisition of Cars.com, where revenue grew 24.8%
- Free cash flow grew 32% to $203M. The company has resumed its share repurchase program ahead of schedule and has about $150M left under current authorization.
- Separation into two companies -- one focused on publishing, one on broadcast/digital -- is "on track" and more details will come in coming months.
Tue, Feb. 3, 8:23 AM
Mon, Feb. 2, 5:30 PM
Mon, Jan. 26, 1:36 PM
Sat, Jan. 24, 11:15 AM
- Shares of New York Times (NYSE:NYT) ended with a 2.74% gain last week after a report of interest by Michael Bloomberg in making an acquisition gained traction.
- 2014 was a rough year for New York Times with a drop in ad sales cutting into the impact of higher subscription prices.
- A new savvy ownership group could unlock more potential on the digital side. (see: Jeff Bezos' plans for Washington Post).
- As noted by Re/code, although Bloomberg has the required chutzpah to make a run at the NYT, the controlling Ochs-Sulzsbergers family by all appearance is a reluctant seller.
- Analysts speculate it could take an offer as high as $4B-$5B to land the company - more than double its $1.97B market cap.
- What to watch: If a mega-deal were to be struck for NYT, there's a thought that it could raise the profile on other newspapers stocks (MEG, GCI, TPUB, LEE, MNI) on M&A potential, increased investment in digital initiatives, or a similar vanity white knight play (Bezos, Bloomberg) for assets.
Dec. 29, 2014, 3:52 PM
- The Gannett Healthcare Group (GHG) has been sold to private OnCourse Learning for an undisclosed sum.
- Gannett (GCI +2.3%) describes GHG "as "a leading provider of continuing education, certification test preparation, online recruitment, digital media, publications and related services for nurses and other healthcare professionals in the United States." The sale comes as Gannett gets ready to split itself in two.
Dec. 10, 2014, 12:37 PM
- Gannett (GCI -1.7%) updated its guidance during a presentation at the UBS Global Media and Communications conference.
- The company says it expects sales growth of 16% this year.
- Q4 EPS is pegged at $1.00-$1.02 vs. $1.02 consensus.
- Gains in the digital segment are expected to be paced by Cars.com and CareerBuilder.com.
Oct. 28, 2014, 2:32 PM
Oct. 28, 2014, 1:07 PM
- USA Today (NYSE:GCI) is the top newspaper in the U.S. by circulation, according to data from the Alliance for Audited Media.
- The daily has a total average circulation of 4.1M to easily top The Wall Street Journal's 2.3M and New York Times' 2.1M.
- The Alliance for Audited Media started counting digital reader views as part of the total circulation tallies this year.
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