PointRoll, a wholly owned subsidiary of Gannett and the leading provider of rich media advertising, became one of the first beta testers in Microsoft’s Atlas Technology Partner Alliance (ATPA), which will allow advertisers and agencies to connect media management systems like PointRoll’s to their current Atlas Media Console reporting system
Gannett's Buzz Bureau is looking to provide valuable new options, including such services as content licensing, research and national distribution to advertisers, trying to do its part to help the advertising industry after its recent well-documented struggles
Wells Fargo analysts downgraded Gannett to "underperform" based on weak ad recovery and a decline in circulation
Gannett reports its Q3 earnings figures, announcing a 53% drop in net income (to $33.13 million) and an 18% drop in revenue (to $1.34 billion). A 28% decling in advertising revenue year-over-year is one of the main factors in these declines.
USA Today expects to report the largest decline in circulation in its 27-year history, threatening its No. 1 position among U.S. dailies as the growth of online news and the slump in travel pummel the newspaper
After three years of plunging revenues, it appears to have finally stopped, with Gannett's third-quarter earnings expected to be substantially above analysts' forecasts
Gannett closed at $9.81 in the week ending 9/20/09, good for a 17.3% increase. This rise boosted it to the top of the Asbury Park Press/Bloomberg 75 index, made up of companies based in or with a significant presence in the Jersey Shore, and helped the index as a whole rise 3.16% from the week before.
Gannett saw a surge in New York trading after a market-research report that some media may see improvement in third-quarter advertising
GCI's quarterly revenue was down 18% from Q2 2008 because of a 32% plunge in ad sales during the quarter. However, the company benefited from numerous cost cutting initiatives and earned 46 cents per share, as compared to estimates of 37 cents per share. This performance spurred a 20% jump in GCI's price.
GCI announced that it cut 125 jobs from several of its regional newspapers in efforts to shave expenses.
As of April 30, AXA Financial cut its holding to less than 1% ownership, down from 13.3% ownership last year.
GCI's Q1 2009 net income was 60% lower than that in Q1 2008, marking a 34% and 15.7% drop in ad revenue in its publishing and broadcasting segments, respectively. However, the lackluster performance still beat most analysts' expecations- as a result, shares rose about 2% following the press release.
GCI's stock price jumped 39% on Thursday following the release of news that fund manager Ariel Investments LLC more than doubled its investment in GCI last quarter.
GCI informed most of its employees that they will have to take another week of unpaid leave in the spring of 2009, the second time the company has enforced furloughs in 2009. The move comes as part of a cost reduction strategy in attempts to mitigate rising newsprint costs and declining advertising revenue. Earlier this year, GCI saved $20 million in operating expenses during its first furlough.
Standard & Poor lowered its corporate credit ratings on GCI from BBB- to BB, or junk status. S&P cited the expected decline in advetising spending in both GCI's newspaper publishing and broadcasting as a result of declining economic activity in the U.S. and U.K.
GCI followed suit with many other media companies, cutting its quarterly dividend by 90% to 4 cents per share in a move to strengthen its balance sheet. The cut will save the company $325 million per year.
The company's Q4 net income fell 36% to $158 million following a 22.7% drop in advertising revenue from its publishing businesses. Furthermore, its financial results are estimated to further worsen following the company's estimated $5.9 billion in pretax wrtie-downs for the falling value of its businesses.
GCI must find a buyer for certain assets of it's Tucson, Arizona publication "The Citizen" by March 21, or else will be forced to close the newspaper.
On February 1, 2008, Gannett reported that earnings fell 5.2%, from a year ago.The decline in revenue was due in large part to a decrease newspaper advertising revenue.
Q1 2007 earnings revealed that net income at Gannett fell to $210.6 million, or 90 cents a share, from $235.3 million, or 99 cents a share, in the year-ago quarter. Revenue fell to $1.87 billion from $1.88 billion in the quarter a year ago. The company blamed a series of severe winter storms and a softening real estate market for the lower advertising revenue.
Gannett announced both circulation and ad revenue fell in February, and announced expected revenues for Q1 2007 to be lower than the average estimate of research analysts.
Shares of newspaper companies, including Gannett and several competitors, rise as multiple bidders appear for the troubled Tribune Company (TRB), fueling speculation of industry-wide consolidation that could lead to buyers paying above-market prices to purchase newspaper companies.
