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Gannett slashes quarterly dividend by 90% (Dinosaur Media DeathWatch™)
Marketwatch.com ^ | February 25, 2009 | Wallace Witkowski

Posted on 02/25/2009 2:23:50 PM PST by abb

Gannett Co. (GCI) said late Wednesday its board cut the quarterly dividend to 4 cents from 40 cents because of the recession and stale credit markets. The newspaper operator hopes to use the annual savings of $325 million to pay down debt. The dividend is payable April 1 to shareholders of record as of March 6.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: advertising; dbm; gannett; liberalmedia; newspapers
SCHTOINK!!!
1 posted on 02/25/2009 2:23:51 PM PST by abb
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Birch T. Barlow; ..

ping


2 posted on 02/25/2009 2:24:29 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://biz.yahoo.com/ap/090225/gannett_dividend.html?.v=4
Gannett slashes dividend 90 pct, saving $325M

http://blogs.barrons.com/techtraderdaily/2009/02/25/gannett-cuts-dividend-90-so-much-for-the-44-yield/?mod=yahoobarrons
Gannett Cuts Dividend 90%; So Much For The 44% Yield

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003944841
Singleton Watching ‘SF Chronicle’ Situation ‘With Interest’

http://www.stillanewspaperman.com/2009/02/24/my-rant-for-the-day/
My rant for the day

http://www.niemanlab.org/2009/02/hearst-medianews-you-can-invent-the-future-in-san-francisco/
Hearst, MediaNews: You can invent the future in San Francisco


3 posted on 02/25/2009 2:29:20 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Anyone dumb enough to own stock in the dinosaur media deserves zero dividends.....

...... then to lose all of the capital.


4 posted on 02/25/2009 2:37:59 PM PST by Enchante (What the Demagogues Call "bi-partisanship" is RINO Grovelling)
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To: abb

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003944869
Gannett Board Slashes its Dividend


5 posted on 02/25/2009 2:38:07 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

“Gannett Board Slashes its wrists over dividend”


6 posted on 02/25/2009 2:44:15 PM PST by headstamp 2 (Been here before)
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To: abb

thats going to leave a mark. I bet the Gannett union retirement account had bucket loads of their own stock too


7 posted on 02/25/2009 2:54:47 PM PST by GeronL (Hey, won't you be my Face Book friend??)
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To: abb

$325 million will make a dent in their debt. They should have been doing this long ago.


8 posted on 02/25/2009 3:03:17 PM PST by Birch T. Barlow (El Rushbo, talent on loan from God.)
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To: Birch T. Barlow

From 12/31/07 to 12/31/08, their revenues declined $670 million.

http://www.google.com/finance?client=ob&q=NYSE:GCI

The water’s coming in faster than they can bail.


9 posted on 02/25/2009 3:11:48 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.poynter.org/column.asp?id=123&aid=159119
Coupons May Be One More Revenue Source of Worry


10 posted on 02/25/2009 3:13:00 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://cancelthebee.blogspot.com/
Report: Kansas City Star to cut 30 postions in addition to closing 3 of 4 bureaus


11 posted on 02/25/2009 3:16:12 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

I’m tempted of buying stocks in the New York times, just so I can be filled with glee every time I look at my portfolio.


12 posted on 02/25/2009 3:22:47 PM PST by MNDude
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To: abb

http://www.newspaperdeathwatch.com/
Darkness On the Hudson


13 posted on 02/25/2009 3:24:45 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

I remember once sitting in a park in Salem, Oregon, talking to a real nice guy about his prospects at the Statesman-Journal newspaper. He told me that there was no chance for advancement for him at the Statesman-Journal because Gannett made it clear to management that only minorities and women would be able to advance up through the system, and he had the wrong skin tone and gender. A really nice guy, one of the few conservatives in the journalism business when I was working there.

Anyway, when I see this news about Gannett stock, I experience intense shadenfreude. The death of Gannett will lead to a funeral with a small number of mourners.


14 posted on 02/25/2009 3:36:36 PM PST by redpoll
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To: redpoll

I live in Ruston, LA. The Monroe, LA News-Star is circulated here and so is the Shreveport Times. When Gannett folds, I intend to go to Monroe and/or Shreveport some dark night and pee on their parking lot.


15 posted on 02/25/2009 3:39:50 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: grellis; AdmSmith; Berosus; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...

RADIO COALITION
The Washington Times | February 25, 2009 | Greg Pierce
Posted on 02/24/2009 8:22:25 PM PST by Delacon
http://www.freerepublic.com/focus/f-news/2193391/posts

Troubled San Francisco paper in danger of closing
[San Francisco Chronicle is dying]
AP | 2009-02-24
Posted on 02/25/2009 12:41:41 PM PST by rabscuttle385
http://www.freerepublic.com/focus/f-news/2193942/posts


16 posted on 02/25/2009 4:13:33 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/____________________ Profile updated Monday, January 12, 2009)
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To: abb; potlatch; BOBTHENAILER
Thanks to Potlatch for creating this and to Bob the Nailer for suggesting it.


17 posted on 03/02/2009 11:35:29 AM PST by Grampa Dave (Zer0's friends are criminals, foreign/domestic terrorists, perverts, sexual deviates or tax cheats!)
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To: Grampa Dave; potlatch

Thanks a million potlatch. Just simply perfect.


18 posted on 03/02/2009 12:37:26 PM PST by BOBTHENAILER (my tagline is over-stimulated)
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To: Grampa Dave; BOBTHENAILER

Hey, I’m glad you both like it. Thanks for the good words!


19 posted on 03/02/2009 4:00:37 PM PST by potlatch
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To: Grampa Dave; potlatch

.

Excellent!


20 posted on 03/02/2009 4:32:57 PM PST by devolve (-- It*s not like Hussein is a confessed cokehead --)
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To: devolve

Lol, I worked on that yesterday afternoon. Gave me something to concentrate on.


21 posted on 03/02/2009 4:35:47 PM PST by potlatch
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To: potlatch
Excellent work. I feel like I went to a fast food drive in and got a gourmet meal in record time.

Thanks to Potlatch for creating this and to Bob the Nailer for suggesting it.


22 posted on 03/02/2009 5:07:30 PM PST by Grampa Dave (Zer0's friends are criminals, foreign/domestic terrorists, perverts, sexual deviates or tax cheats!)
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To: Grampa Dave

[Excellent work. I feel like I went to a fast food drive in and got a gourmet meal in record time. ]

Thanks so much Dave, I appreciate that nice comment!


23 posted on 03/02/2009 5:10:12 PM PST by potlatch
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