Gannett slashes quarterly dividend by 90% (Dinosaur Media DeathWatch™)

Marketwatch.com ^ | February 25, 2009 | Wallace Witkowski

[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.

[abb]

SCHTOINK!!!

[abb]

ping

[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

[Enchante]

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

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

[abb]

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

[headstamp 2]

“Gannett Board Slashes its wrists over dividend”

[GeronL]

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

[Birch T. Barlow]

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

[abb]

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.

[abb]

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

[abb]

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

[MNDude]

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.

[abb]

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

[redpoll]

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.

[abb]

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.

[SunkenCiv]

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

[Grampa Dave]

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

[BOBTHENAILER]

Thanks a million potlatch. Just simply perfect.

[potlatch]

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

[devolve]

.

Excellent!