Date

Sat - 23.09.2017


Gannett Co.

US newspaper companies aren’t off to a great start this fiscal year, with both Lee Enterprises and Gannett Co. reporting large quarterly losses.

Lee revealed that the company lost $26.6 million for the second fiscal quarter ending March 25, or the equivalent of 54 cents lost per share, The Washington Post reported. Last year at this time, Lee reported a loss of $1.3 million, or 3 cents per share.

The vast losses can be contributed to refinancing and reorganization costs, according to a press release. Taking those costs out of the equation, the adjusted loss was 3 cents per share, the press release said.

Operating revenue decreased by 3.6% to $172.3 million, the press release said. While combined print and digital advertising revenue fell 5.3%, digital ad revenue rose by 9.9%.

Author

Gianna Walton

Date

2012-04-18 12:24

USA Today has only five reporters covering Congress, but 27 covering entertainment news, the Gannett Blog reported, after its editor Jim Hopkins obtained copies of newsroom flow charts dated October 21-22. Hopkins, a former USA Today reporter, believes that "this is the first time USAT's editorial staffing breakdown has been made public."

The document showing the distribution of staff shows that as well as the five staff allocated to Congress/Politics, there are another six assigned to White House/Legal, another four to Federal and five to Economy/Jobs. This total number covering political issues is still less than the 27 focused on entertainment, however, which accounts for by far the largest group.

For more on this story, visit our sister publication, editorsweblog.org.

Author

Leah McBride Mensching

Date

2010-11-16 16:07

Shares of Gannett Co. Inc plunged 8.02 percent today to $12.96, after its quarterly revenue fell short of expectations for the biggest U.S. newspaper chain, AFP reported.

The company's net profit in the third quarter was up 37.5 percent to $101.4 million compared to the same period a year ago.

Revenue, however, remained flat at $1.31 billion, which was short of the Wall Street expectation's $1.32 billion.

The publishing unit had its revenue down almost 5 percent to $969.4 million, including a 5-percent decline in advertising revenue to $646.7 million, Reuters reported.

Broadcasting revenue, on the other hand, gained 22.3 percent to $185.3 million, with digital revenue up 10.2 percent to $157.7 million.

Author

Erina Lin

Date

2010-10-15 21:51

Publishers Detroit Media Partner (DMP) and Star Media Group (SMD), both owned by Gannett Co., are teaming up with Yahoo for a digital advertising venture that would allow advertisers to place ads on Yahoo's sites to reach audiences within required specifications, IndyStar.com and Freep.com reported today.

"Local advertising continues to be an important area of focus for us, and Yahoo is committed to helping local businesses reach high-quality target audiences," said Lem Lloyd, vice president of Yahoo Americas channel sales, in a DMG press release.

DMP will be offering Yahoo's inventory so that local advertisers can reach a wider user base and so that they look for consumers through enhanced audience targeting (location, demographics, interests), according to press release. John Kridelbaugh, SMG vice president for market development and digital, explained that behavioural and demographic factors could seem more compelling to advertisers than geographic location, IndyStar.com wrote.

Author

Alisa Zykova

Date

2010-10-07 17:41

U.S. publishers Gannett Company Inc., The New York Times Co. and The Washington Post Co. have invested US$12 million in a start-up company called Ongo, which is developing a news aggregation website that will draw content from major publishers, The Wall Street Journal revealed today.

"We are building Ongo to reflect the many ways consumers prefer to read, organize and share digital news," Ongo's founder and chief executive officer Alex Kazim stated in a press release. The service is expected to go online by the end of the year.

In a statement, The Washington Post explained that its investment was lead by the company's interest "in experimenting with different ways to experience digital news and information." The three media groups have been discussing the joint project with Kazin, a former eBay executive who was president of Skype before it was sold, for more than a year, a spokesperson of The New York Times said to The Wall Street Journal.

Author

Clara Mart

Date

2010-09-29 17:04

Gannett Co.'s USA Today has added a daily crossword and customisable market and stock listings to its free iPad application, Editor & Publisher reported yesterday.

"We've been thrilled with reader reaction to our App and think these enhancements will be well received," president and publisher of USA Today David L. Hunke said. The first version, which was launched in April, has been downloaded more than 800,000 times, USA Today revealed.

Initially, Gannett Co. was going to start charging for the iPad application on July 4th. However, later that month it announced that the app was going to remain free at least until September "due to continued advertising interested," PoynterOnline noted.

The popular crossword puzzle is now available in Life section and includes features like hints, game timer and a two-week archive. Meanwhile, the updated Money section offers financial tools to manage portfolios and stock quote lookups, E&P explained.

Author

Clara Mart

Date

2010-08-11 16:12

Shares of Gannett Co., Inc. rose Wednesday, after Zacks Investment Research said the U.S. publisher is benefiting from improving advertising trends, Wall Street Journal reported.

Gannett recently saw its shares go up 80 cents, or 6.1 percent, to $13.93. The company earlier said it was "comfortable" with 2Q earnings at the higher end of analysts' estimates, which ranges between 47 cents and 58 cents a share.

Analysts were expecting an average 2Q profit of 53 cents a share, Wall Street Journal reported.

Gannett plans to report its 2Q results on July 16.

Author

Erina Lin

Date

2010-07-07 23:12

U.S. bank JPMorgan & Chase Co. increased its stake in Gannett Co. by more than US$300 million, to 10.2 percent, The Associated Press reported yesterday.

The move to increase its stake, from the previous 2.16 percent, in the largest U.S. newspaper publisher was not explained in an SEC filing, according to the Wall Street Journal. However, the move could mean the bank believes the financial woes the newspaper industry has experienced over the past several years are going to be traded for a better future, the AP pointed out.

"The move appears to be a vote of confidence about a further recovery in local advertising markets, where Gannett has a significant presence," the WSJ article stated. Gannett's first quarter profits were up 51 percent, due to enormous cost-cutting measures on operating and newsprint costs. Share prices have also tripled over the past 12 months.

The 10.2 percent stake is currently worth $404 million, according to CNBC.

Author

Leah McBride Mensching

Date

2010-05-12 22:10

U.S. newspaper publisher Gannett Co., Inc. today posted a first quarter profit that beat estimates, Reuters reported. The publisher posted a net income of US$119.3 million, up from $77.7 million at the same time last year. Share prices were also up on the news, to 49 cents a share, compared to 34 cents a share last year.

"The good news matters," MarketWatch's Jon Friedman wrote. "Sometimes, improved profit figures simply result from executives ruthlessly cutting expenses to the bone - and then crowing when, miracle of miracles, the numbers come out in their favour. As for genuine growth, it's anybody's guess whether the entity could achieve something tangible without the machete-like chopping."

However, Morningstar Analysts pointed out in the Toronto Star that the publisher's first quarter sales were down 4 percent from the same time last year, driven by a 7 percent decline in publishing revenue, and partially offset by a 17 percent increase in broadcasting revenue, mainly due to ad revenue during the Winter Olympics. On the bright side, operating margins improved to 16 percent, due to lower costs especially in the newsprint sector, which were down 32 percent from the first quarter of last year.

Author

Leah McBride Mensching

Date

2010-04-16 17:51

USA Today launched a new trade ad campaign with the theme "What America Wants" yesterday to highlights its connection with readers, BtoBonline reported.

The new multimedia trade campaign targets advertisers and media buyers by emphasising the continued leadership of Gannett Co.'s flagship newspaper in establishing a connection with readers, and aims to position USA Today as "The Nation's Newspaper" by creating value for its advertisers, according to its press release. The "What America Wants" campaign focuses on the newspapers' "balanced and unpretentious reporting" on issues important to Americans, Editor & Publisher reported.

"While other media brands like to claim that they are telling their readers what they think they should know, USA Today prides itself on writing about what our readers actually want to know," David L. Hunke, president and publisher of USA Today, told E&P.

Author

Savita Sauvin

Date

2010-03-23 23:23

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