Keyword: gannett

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  • Gannett to Furlough Workers for Week (USA Today) Dinosauer Media Watch

    01/14/2009 2:13:02 PM PST · by xtinct · 8 replies · 448+ views
    NYT ^ | 1/14/09 | RICHARD PÉREZ-PEÑA
    The Gannett Company, the nation’s largest newspaper publisher, said on Wednesday that it would force thousands of its employees to take a week off without pay in an effort to avoid layoffs. Gannett, which owns 85 daily newspapers across the United States including its flagship USA Today, said it could not say exactly how many people would be required to take time off, or how much money the company would save. But it said it would require unpaid leave for most of its 31,000 employees. “Most of our U.S. employees — including myself and all other top executives — will...
  • Gannett furloughs employees for a week (Dinosaur Media DeathWatch™)

    01/14/2009 10:30:19 AM PST · by abb · 34 replies · 1,122+ views
    Reuters ^ | January 14, 2009 | Robert MacMillan
    Gannett Co Inc (GCI.N), the largest U.S. newspaper publisher, will make workers take a week off without pay because of what it called some of the most difficult economic conditions it has ever experienced. "This means that most of our U.S. employees -- including myself and all other top executives -- will be furloughed for the equivalent of one week in the first quarter," Chief Executive Craig Dubow wrote in a memo to employees on Wednesday. Gannett, which publishes USA Today, the largest U.S. newspaper by circulation, is instituting the furlough after cutting thousands of employees from its payroll to...
  • Detroit papers drop home delivery to 3 days a week (Dinosaur Media DeathWatch™)

    12/16/2008 4:29:05 PM PST · by abb · 32 replies · 651+ views
    Associated Press ^ | December 16, 2008 | Staff
    Beset by falling revenue, Detroit's newspapers announced Tuesday that they plan to offer only three days of home delivery and will push their online editions instead, making the city the largest in the nation to undergo such a makeover. The Detroit Media Partnership, which runs the Detroit Free Press and The Detroit News, expects to cut about 9 percent of its work force but "hopefully" less, and there will be no job reductions in the newsrooms of either paper, said David Hunke, Free Press publisher and chief executive of the partnership. "We're here because we're fighting for our survival," Hunke...
  • WSJ: Denver-owned Detroit paper cutting back

    12/13/2008 11:09:24 AM PST · by george76 · 21 replies · 859+ views
    Denver Business Journal ...Wall Street Journal ^ | December 12, 2008 | Mark Harden
    The Detroit News...and another Detroit daily newspaper, the Free Press, are expected to announce next week that they will halt home delivery of the two papers most days of the week... The move comes in the wake of a 22 percent circulation decline at the News and 15 percent at the Free Press over the last five years. Staff cuts are also likely.... The Free Press is owned by Gannett Co., Inc In the face of the worst business climate for daily newspapers in decades, with steep declines in advertising and rising business costs, other U.S. dailies have examined steps...
  • Detroit Dailies to Curtail Home Delivery (Dinosaur Media DeathWatch™)

    12/12/2008 1:01:18 PM PST · by abb · 23 replies · 733+ views
    The Wall Street Journal ^ | December 12, 2008 | Russell Adams
    The publisher of the Detroit Free Press, the country's 20th largest paper by weekday circulation, is expected to announce next week that it will cease home delivery of the print edition of the newspaper on most days of the week, according to a person familiar with the company's thinking. The publisher hasn't made a final decision, said this person, but the leading scenario set to be unveiled Tuesday would call for the Free Press and its partner paper, the Detroit News, to end home delivery on all but the most lucrative days—Thursday, Friday and Sunday. On the other days, the...
  • Gannett sees 2008 revenue down 8 pct from 2007

    12/10/2008 12:44:43 PM PST · by Zakeet · 9 replies · 316+ views
    Reuters ^ | December 9, 2008
    Newspaper publisher Gannett said on Wednesday it expects its 2008 revenue to fall to $6.8 billion from $7.4 billion last year, underscoring what is shaping up to be the worst advertising market in decades. The publisher of newspapers such as USA Today also told attendees of a UBS investor conference that it expects to shoulder severance costs of $45 million to $50 million in the current quarter for its previously announced plan to cut 10 percent of its workforce. "We're focusing on leaner operations across the board," Chief Executive Craig Dubow told attendees during a Webcast of the conference two...
  • Gannett begins carrying out planned 10 pct cut (Dinosaur Media DeathWatch™)

    12/03/2008 4:41:43 AM PST · by abb · 43 replies · 569+ views
    Associated Press ^ | December 2, 2008 | Staff
    The nation's largest newspaper company, USA Today publisher Gannett Co., has begun implementing a 10 percent work force cut announced in October in response to declining revenue. Employees at some of the company's 85 local and regional papers learned Monday and Tuesday what cuts will occur at their publications. The latest reductions follow a 3 percent cut announced in August. Both cuts are separate from a 5 percent trim from USA Today's newsroom announced Nov. 24. A spokeswoman for McLean, Va.-based Gannett did not immediately return calls seeking comment Tuesday. The Rochester Democrat and Chronicle in New York said Tuesday...
  • 'Rochester D&C' Drops 59 Jobs (massive layoffs at Gannett underway - Dinosaur Media DeathWatch™)

    12/02/2008 10:49:39 AM PST · by abb · 31 replies · 1,060+ views
    Editor & Publisher ^ | December 2, 2008 | Staff
    The Rochester Democrat and Chronicle says it is eliminating 59 jobs, or 8% of its work force, to pare back costs during the weak economy. The daily newspaper says it will lay off 34 employees later this week and has already accepted 14 voluntary reductions, 3 of them in the newsroom. In addition, it says 11 open positions will not be filled. The newspaper has not yet specified how many of the layoffs will occur in the newsroom. After the cuts are made, it will have 680 full-time and part-time employees. Publisher Ali Zoibi says rising costs and a drop...
  • USA Today to lay off 20 in early December (Dinosaur Media DeathWatch™)

    11/24/2008 5:41:34 AM PST · by abb · 29 replies · 630+ views
    Poynter Online ^ | November 24, 2008 | Ken Paulson and John Hillkirk
    Memo sent to USA Today staffers on Nov. 23 To: The newsroom staff From: Ken Paulson and John Hillkirk The current economic crisis has taken its toll on businesses nationwide, including USA TODAY. This will mean a cut in our 2009 budget, including the elimination of about 20 positions in early December. We wish this wasn't necessary, but we're facing unprecedented economic challenges and we have to cut spending. We'll have our regular monthly staff meeting Monday at 5 p.m. EST and will discuss this development and answer any questions you may have, but here are the basics: Those whose...
  • GCI (Gannett) said laying off 10% (3000) of newspaper staff (Dinosaur Media DeathWatch™)

    10/28/2008 11:06:54 AM PDT · by abb · 32 replies · 375+ views
    Gannett Blog ^ | October 28, 2008 | Staff
    Reeling from a second consecutive quarter of revenue losses, Gannett just announced plans to lay off 10% of its newspaper employees -- about 3,000 workers -- by early December, as the nation's top newspaper publisher struggles to right itself. The mass layoff was disclosed in a memo from newspaper division president Bob Dickey (left). The unprecedented cuts follow the elimination of more than 1,000 jobs over the past two months in Gannett's biggest and most troubled unit: the community newspaper division. Its 84 dailies plus USA Today account for nearly 80% of revenue, and 65% of GCI's 46,000 employees. The...
  • Gannett profit falls short on weak advertising [and their stock is dropping like a rock]

    10/24/2008 8:55:23 AM PDT · by Zakeet · 8 replies · 316+ views
    Reuters ^ | October 24, 2008 | Robert MacMillan
    Gannett Co Inc, the largest U.S. newspaper publisher, posted lower-than-expected quarterly profit on Friday, reflecting anemic print advertising sales across the industry. Shares fell as much as 9 percent shortly after trading began on the New York Stock Exchange, a move reflected by major indices including the Dow Jones Industrial Average, which dropped near 400 points after U.S. markets opened. The results cap more than a week of stomach-churning ad declines at U.S. publishers Media General Inc, McClatchy Co and New York Times Co. The worsening world financial crisis is aggravating the already weakened state of U.S. newspapers, which have...
  • Gannett Reports 3rd Quarter Results (Down 32% - Dinosaur Media DeathWatch™)

    10/24/2008 5:40:04 AM PDT · by abb · 23 replies · 416+ views
    Yahoo Biz ^ | October 24, 2008 | Staff
    Gannett Co., Inc. (NYSE:GCI - News) reported today that 2008 third quarter earnings per diluted share from continuing operations were $0.69 compared with $1.01 per share in the third quarter of 2007. The results for the quarter include $23.0 million in pre-tax severance expenses ($14.4 million after tax or $0.07 per share) related to reductions in force and efficiency efforts in the U.S. and the UK. Absent severance expenses in the quarter, the company would have earned $0.76 per share.
  • Gannett Stock Hits 18-Year Low (Dinosaur Media DeathWatch™)

    10/22/2008 5:56:41 PM PDT · by abb · 25 replies · 462+ views
    Editor & Publisher ^ | October 22, 2008 | Mark Fitzgerald
    On a bad day for newspaper stocks, shares of Gannett Co. (NYSE: GCI) sank Wednesday to their lowest price in 18 years. Gannett tumbled 11.25% during the session, shaving $1.18 off its share price to close at $9.31 a share. It price, adjusted for splits and dividends, hasn't been that low since October 1990. Gannett is scheduled to release its third-quarter results on Friday morning. Based on the weak revenue figures already released by The McClatchy Co. and Media General, Wall Street is clearly not expecting good news from the nation's largest newspaper publisher. Shares of The New York Times...
  • Gannett Reports Ad Revenue Off 16.8% for August (Dinosaur Media DeathWatch™)

    09/15/2008 12:14:06 PM PDT · by abb · 7 replies · 230+ views
    Editor & Publisher ^ | September 15, 2008 | Staff
    Gannett reported today that advertising revenue at its publishing division plunged 16.8% in August compared to the same period a year ago on steep declines in classified advertising revenue. Classified advertising revenue decreased 28% on severe drops in real estate (down 40.0%), employment (down 33.6%) and automotive (down 21.1%). Both of Gannett's U.S. and U.K properties experienced declines. At Gannet's U.S. community publishing division only, total classified revenue fell 25.8% on a 32% drop in real estate revenue, a 35.1% drop in employment revenue, and an 18.3% drop in real estate revenue. Total retail advertising revenue at Gannett's publishing division...
  • Gannett eliminates 100 department head positions (Dinosaur Media DeathWatch™)

    09/09/2008 11:11:21 AM PDT · by abb · 21 replies · 397+ views
    Poynter Online ^ | September 9, 2008 | Robert J. Dickey
    Letter from Gannett U.S. Community Publishing president Robert J. Dickey September 9, 2008 Dear Fellow Employee, Given the job reductions across our division in the past month, I wanted to share with all of you our reasoning and plans for the future under a new structure we are implementing beginning today. Like many businesses, the weakening economy has had a significant effect on our financial performance. Hardest are the classified categories – real estate, employment and automotive, where our year-over-year classified losses are in the 25% range. But it does not stop there: All segments are struggling with the current...
  • How do we just post a link to a Gannett newspaper.

    09/04/2008 3:40:30 AM PDT · by BS69 · 7 replies · 375+ views
    Not sure how to post a link to a Gannett newspaper. Link only.
  • Gannett revenue down 12% (Dinosaur Media DeathWatch™)

    08/22/2008 2:12:15 PM PDT · by abb · 13 replies · 287+ views
    Pacific Business News ^ | August 22, 2008 | Tucker Echols
    Gannett Co. Inc., bedeviled by plunging classified advertising, reported a 12.3 percent decline to $546.4 million in revenue for July compared to a year ago. A 25.2 percent decline in classified advertising sales reduced publishing revenue 16.7 percent to $340 million. Real estate classified revenue was 37.9 percent lower, employment classified revenue was down 29.1 percent and automotive classified revenue declined 21.1 percent. Broadcast revenue declined 6.1 percent to $61 million while a 4.2 percent decline in paid daily newspaper subscribers reduced circulation revenue by 2.6 percent $108.7 million. The latest figures from the Mclean, Va.-based media giant, the nation’s...
  • UPDATE: Gannett Confirms Cut in 1,000 Jobs

    08/14/2008 9:18:12 PM PDT · by mdittmar · 13 replies · 174+ views
    EDITOR & PUBLISHER ^ | August 14, 2008 | E&P Staff
    Gannett, the largest newspaper chain in the country, is preparing to trim 3% of its workforce -- or 1,000 employees -- through cuts and attrition. Gannett Vice President of Corporate Communications Tara Connell confirmed the reductions to E&P Thursday afternoon, adding that decisions on staff cuts would be made at each property based on financial targets and performances. The McLean, Va.-based company publishes more than 80 dailies, including USA Today, and 900 non-dailies. Gannett corporate is expected to review and approve the decisions. The Gannett Blog, run by former Gannett editor and reporter Jim Hopkins from Ibiza, Spain reported Wednesday...
  • Gannett said laying off 600 newspaper employees (Dinosaur Media DeathWatch™)

    08/14/2008 9:57:08 AM PDT · by abb · 14 replies · 562+ views
    Poynter Online ^ | August 14, 2008 | Staff
    Updated at 11:44 a.m. ET on Aug. 14: The Courier-Journal in Louisville, Ky., is among the first newspapers reporting layoffs on Thursday. Earlier: A Maryland publisher told employees late Wednesday afternoon that Gannett is eliminating 1,000 newspaper jobs, or about 3% of the troubled newspaper division's workforce -- and that about 600 employees are being laid off, a Gannett Blog reader says. The reader provided a copy of a memo that Daily Times Publisher Rick Jensen e-mailed about 4 p.m. today at the paper in Salisbury. "Across Gannett’s Community Publishing division, about 1,000 positions will be eliminated -- about 3%...
  • 'Cincinnati Enquirer' Looks for 50 Buyouts (Dinosaur Media DeathWatch™)

    08/05/2008 11:08:39 AM PDT · by abb · 14 replies · 269+ views
    Editor & Publisher ^ | August 5, 2008 | Staff
    Eight months after becoming the only local daily in the city, Gannett Co.'s Cincinnati Enquirer is seeking to buy out 50 staffers. In an e-mail to employees Monday, Publisher Margaret Buchanan said the paper is looking to make the reductions among non-union employees. "If this voluntary offer doesn't result in a sufficient number of volunteers, or if in the future, economic conditions worsen, it may be necessary to consider layoffs," Buchanan wrote. On offer is two weeks of salary for every year of service plus health benefits for a period of up to 52 weeks. The offer expires Aug. 15,...
  • Gannett Writes Down $2.8 Billion On Goodwill, Other Impairment (Dinosaur Media DeathWatch™)

    08/04/2008 4:42:32 AM PDT · by abb · 10 replies · 205+ views
    Editor & Publisher ^ | August 3, 2008 | Mark Fitzgerald
    Gannett Co. Inc., which last month warned it would be taking a big non-cash write-down in goodwill and other impairment, said in a regulatory filing the charge amounted to $2.8 billion pre-tax, and $2.5 billion after taxes. In mid-July, Gannett had issued a preliminary financial statement for its second-quarter, reporting earnings per share of $1.02 compared with $1.24 per share in the year-ago quarter. In its filing with the Securities and Exchange Commission (SEC), Gannett adjusted that to a Q2 2008 loss of $2,290.8 million or $10.03 per share from continuing operations, including the impairment charges. The year-ago earnings of...
  • Gannett shares plunge 13% after earnings disappoint (Dinosaur Media DeathWatch™)

    07/16/2008 10:34:36 AM PDT · by Zakeet · 5 replies · 66+ views
    Market Watch ^ | July 16, 2008 | David B. Wilkerson
    Gannett shares were down as much as 13% Wednesday after the newspaper publisher and broadcaster reported that second-quarter earnings and revenue fell short of Wall Street's expectations and warned that it will take a charge in the same quarter that reflects a decline in the value of its assets. The news marks the latest sign that newspapers are having difficulty making the transition to the online era. Gannett stock was down $2.10 to $15.25 in morning trading on heavy volume of 5.2 million shares. In the quarter ended June 30, the publisher of USA Today said it expects to take...
  • Gannett 2Q EPS $1.02 vs $1.56 (Obama PR firm profit down 36% - Dinosaur Media DeathWatch™)

    07/16/2008 6:59:13 AM PDT · by abb · 24 replies · 262+ views ^ | July 16, 2008 | John Ittner
    Gannett Co. Inc. (GCI) said Wednesday that preliminary second-quarter earnings were $232.7 million, or $1.02 a share, compared to $365.7 million, or $1.56 a share, in the same period a year ago. Earnings from continuing operations were $1.02 compared with $1.24 per share in the second quarter of 2007. The preliminary results, however, do not include non-cash charges to be recorded in the quarter, which have not yet been finalized. The non-cash charges are expected to total in the range of $2.6 billion to $2.9 billion on a pre-tax basis and $2.4 billion to $2.7 billion on an after-tax basis....
  • Gannett Reorganizes Newspaper Div - Pares Two Execs (Obama loses staff - Dinosaur Media DeathWatch™)

    06/29/2008 2:46:48 PM PDT · by abb · 11 replies · 138+ views
    Editor & Publisher ^ | June 29, 2008 | Staff
    Gannett Co. Inc. said Friday it is reorganizing its U.S. Community Publishing division, reducing the number of regional groups by one to four and seeing off two retiring top executives. Under the new structure, five regional groups have been reorganized into four: East, South, Interstate and West. Interstate will be headed by Senior Group President Barbara A. Henry until Aug. 1, when she is retiring, Gannett said. Henry, 55, has also been president and publisher of The Indianapolis Star since 2000. She began her career at Gannett as a reporter at the Reno (Nev.) Gazette-Journal in 1974, and later became...
  • Morningstar Lowers Gannett Stock Rating(Dinosaur Media DeathWatch™)

    06/24/2008 9:59:14 PM PDT · by mdittmar · 5 replies · 125+ views
    EDITOR & PUBLISHER ^ | June 24, 2008 | Mark Fitzgerald
    CHICAGO Gannett Co. Inc. has an enviably low debt burden and online businesses growing at a healthy rate, yet even it cannot escape Wall Street's current aversion to newspaper stocks. The latest evidence comes from Morningstar Inc., the Chicago-based investment research firm. In its latest note from stock analyst Tom Corbett Morningstar lowered its "fair value estimate" of Gannett stock to $23 from $32 a share. It said investors should "consider buying" the stock at $17.30, and "consider selling" at $29.90. In afternoon trading Tuesday, Gannett (NYSE: GCI) was at $22.59, off 18 cents, or 0.8%, from its opening. It...
  • Gannett May total advertising rev down 14.3% (Dinosaur Media DeathWatch™)

    06/17/2008 3:35:39 PM PDT · by abb · 19 replies · 196+ views ^ | June 17, 2008 | Sue Chang
    <p>Gannett Co.'s (GCI) total advertising revenue fell 14.3% to $347.1 million in May from $404.9 million in May 2007, the media company said late Tuesday.</p>
  • Gannett Freezes Employee Pensions, Ups 401-K for Many (Dinosaur Media DeathWatch™)

    06/11/2008 2:17:15 PM PDT · by abb · 14 replies · 639+ views
    Editor & Publisher ^ | June 11, 2008 | Joe Strupp
    Gannett this afternoon announced it is freezing the pensions of company employees, according to sources at several newspapers, who said a memo on the plan was sent today from Gannett CEO Craig Dubow. The change includes a change in 401K match, with employees gaining main Gannett stock for each contribution to their 401K fund. Gannett officials did not respond to requests for comment. The move comes just days after Gannett announced it would write down its assets by about $2.5 billion to $3 billion this quarter to reflect the declining value of its operations in the United Kingdom and the...
  • Gannett to take $2.5B to $3B write-down (Dinosaur Media DeathWatch™)

    06/09/2008 4:45:24 PM PDT · by abb · 26 replies · 47+ views
    Yahoo Biz ^ | June 9, 2008 | Matthew Barakat
    The nation's largest newspaper chain, Gannett Co., will write down its assets by about $2.5 billion to $3 billion this quarter to reflect the declining value of its operations in the United Kingdom and the United States. At a Deutsche Bank investor conference in New York, Gannett Chief Financial Officer Gracia Martore said much of the writedown reflects a declining value in Gannett's United Kingdom newspaper operation, Newsquest. It also generally reflects "where the market perceives traditional print businesses to be," she said. Stock in Gannett, which publishes USA Today, has lost roughly half its value in the last year,...
  • Posting Links from Gannett Papers [VANITY]

    05/27/2008 3:02:13 AM PDT · by markomalley · 10 replies · 246+ views
    Looking at the "Updated FR Excerpt and Link Only" thread, I see that Gannett Papers are on the "link only" list: "Received another letter from Gannett Publications, publisher of USAToday, and several other newspapers. Due to contractual arrangements they have with third-party content providers, they have denied our request to allow posting of excerpts. They will only allow the posting of titles and links. Please do not post full text or even excerpts from the following Gannett Web sites: " I understand why, with the costs of legal time and the likelihood that the MSM/DemocRAT party would want to shut...
  • Gannett revenue drops 7.7 percent in April (Dinosaur Media DeathWatch™)

    05/19/2008 2:06:25 PM PDT · by abb · 11 replies · 115+ views
    Yahoo Biz ^ | May 19, 2008 | Staff
    Gannett April operating revenue falls 7.7 percent, on decline across all categories MCLEAN, Va. (AP) -- Gannett Co., the nation's largest newspaper publisher, said Monday its operating revenue fell 7.7 percent in April. Total revenue for the period ending May 4 fell to $639.6 million from $693.3 million in the comparable period a year ago. Publishing advertising revenue fell 10.4 percent to $410.9 million, hurt by the shift of Easter into March this year. Retail advertising revenue fell 6.1 percent to $189.5 million, hurt by fewer furniture, entertainment and telecommunications ads. Classified revenue fell 15.8 percent to $155.5 million, due...
  • Gannett Offers Buyouts to 160 at New Jersey Papers (Dinosaur Media DeathWatch™)

    05/10/2008 6:18:36 AM PDT · by abb · 22 replies · 128+ views
    Editor & Publisher ^ | May 9, 2008 | Staff
    ASBURY PARK Gannett Co. Inc. on Friday said it was offering buyouts to a total of 160 workers at five of its six newspapers in the state of New Jersey, as advertising revenues decline. The buyouts were offered to employees over age 55 who have at least 15 years of service with the company, said Judi Dorsey, vice president for human resources at the Asbury Park Press, Gannett's flagship paper in the state. The 160 employees targeted were asked to respond to the offer by the end of next week. Layoffs are possible if not enough buyouts are accepted, Dorsey...
  • Gannett Co. revenue, profits decline (Dinosaur Media DeathWatch™)

    04/21/2008 9:50:52 AM PDT · by abb · 11 replies · 69+ views
    Business Courier of Cincinnati ^ | April 21, 2008 | Staff
    Gannett Co. Inc. blamed a slowing economy for fewer advertisements in its newspapers and on its television stations as it announced Monday that revenue and profits declined in the first quarter of 2008. The McLean, Va.-based media company owns the Cincinnati Enquirer and Community Press newspaper locally. Net income fell 8.9 percent to $191.8 million, or 84 cents per diluted share, from $210.6 million, or 88 cents per diluted share, in the year-ago period. Revenue declined 8.4 percent to $1.68 billion for the first quarter compared to $1.83 billion during the same quarter last year. It was the fifth straight...
  • Gannett February Revenue slides (Dinosaur Media Death Watch)

    03/14/2008 8:16:18 AM PDT · by Sir Hailstone · 13 replies · 175+ views
    3/14/2008 | Gannett
    "Gannett Co., the nation's largest newspaper publisher, said today its operating revenue fell 7.2 percent in February, hurt by a continued decline in real estate and employment ad sales." Awwww too bad.
  • Gannett January Operating Revenue Falls (Dinosaur Media DeathWatch™)

    02/28/2008 10:16:16 AM PST · by abb · 5 replies · 122+ views
    Yahoo Biz ^ | February 28, 2008 | Staff
    Gannett Co., the nation's largest newspaper publisher, said Thursday that January operating revenue dropped 7.5 percent on sharp declines in real estate and employment ad sales. The publisher of USA Today said pro forma operating revenue slipped to $575.4 million from $622 million. Pro forma assumes all properties were owned in both the latest and year-ago periods. Total newspaper advertising sales fell 9.2 percent to $371.4 million. Classified ad sales slid 16.1 percent, with real estate down 25.3 percent and employment revenue off 19.1 percent. National ad revenue climbed 5.9 percent to $62.5 million. Broadcasting revenue slipped 6 percent to...
  • Gannett 4th-quarter profit falls 31 percent (Dinosaur Media DeathWatch™)

    02/01/2008 1:45:55 PM PST · by abb · 15 replies · 85+ views
    Yahoo Biz ^ | February 1, 2008 | Staff
    Newspaper publisher and broadcaster Gannett Co Inc (NYSE:GCI - News) posted a 31 percent decline in quarterly profit on Friday due to lower broadcast and print ad sales and an impairment charge. Gannett said it faced a "softer" economic environment, echoing the comments of other U.S. newspaper publishers this week. The USA Today publisher said fourth-quarter net income fell to $245.3 million, or $1.06 per share, from $353.5 million, or $1.51 per share, a year earlier. Revenue fell 12 percent to $1.9 billion, below the average Wall Street forecast of $1.99 billion, according to Reuters Estimates. Excluding an impairment charge...
  • Exit Strategies (reporters flee The Tennessean - Dinosaur Media DeathWatch™)

    01/25/2008 11:31:03 AM PST · by abb · 17 replies · 299+ views
    Nashville Scene ^ | January 24, 2008 | Matt Pulle
    Good reporters flee The Tennessean as the paper flounders in the free media age by Matt Pulle Imagine you're Tennessean editor Mark Silverman. The job is not what it once was. First of all, one of your titles is vice president for content and audience development, which makes you sound like a middle manager at the WB network. The stock of Gannett, your corporate parent, is down 42 percent in just the last year. And worst of all, you feel the need to tailor the paper's coverage away from politics and crime and toward soft, lifestyle features as you try...
  • Duncan Hunter: 'This thing is wide open'

    01/17/2008 5:26:31 PM PST · by pissant · 414 replies · 264+ views
    Reno Gazette | 1/17/08 | Guy Clifton
    Ganette publication, link only.
  • Final Banner Hed in Kentucky Paper: "-30-" (Dinosaur Media Deathwatch)

    01/01/2008 6:18:11 PM PST · by mdittmar · 16 replies · 326+ views
    Editor and Publisher ^ | January 01, 2008 | ap
    CINCINNATI The Post newspapers in Cincinnati and Kentucky printed their final editions yesterday, ending a 126-year run. The front-page headline in the last Kentucky Post proclaimed "-30-," a symbol used by journalists, printers, and telegraphers to signal the end of a dispatch. It rolled off the presses about an hour after its sister Cincinnati Post ended publication. The two papers, which were published in the afternoon, have been struggling for decades, part of a national trend. E.W. Scripps Co., of Cincinnati, owner of the two papers, decided in July to close them when a joint operating agreement with Gannett Co....
  • Subprime crisis hits newspapers’ revenues. (Dinosaur Media Deathwatch)

    12/31/2007 3:53:57 PM PST · by managusta · 15 replies · 288+ views
    The Financial Times Limited ^ | December 27 2007 | Joshua Chaffin
    The subprime mortgage crisis is tearing through the newspaper industry as US papers suffer sharp falls in real estate advertising. The extent of the damage was visible this month when Tribune Company, which owns the Los Angeles Times and Chicago Tribune, reported a 40 per cent decline in November for its real estate classified advertising revenues. Gannett, the largest chain, said recently it was on track for a 27 per cent drop in real estate advertising for the fourth quarter after reporting a 23 per cent slide in the third quarter. Edward Atorino, an analyst at Benchmark Capital, said: “It’s...
  • Gannett Nov Sales Slide As Ads Falter (Dinosaur Media DeathWatch™)

    12/18/2007 6:11:30 AM PST · by abb · 13 replies · 104+ views
    Yahoo Biz ^ | December 18, 2007 | Staff
    Gannett November Revenue Slides As Classified, Real Estate Ads Falter MCLEAN, Va. (AP) -- Media company Gannett Co. said Tuesday operating revenue fell 4.6 percent in November, hurt by continued sharp declines in newspaper classified and real estate advertising. Gannett, whose flagship paper is USA Today, said total ad revenue in the month ended Dec. 2 fell 3.9 percent to $420.4 million from $437.6 million last year. Total revenue dropped to $634.7 million. Classified ad revenue plunged 11.2 percent to $141.8 million, more than offsetting a 1.6 percent gain in local ads to $205.7 million. Newspaper publishers have struggled in...
  • USA Today ends Hawaii printing, distribution (Dinosaur Media DeathWatch™)

    12/15/2007 4:42:31 AM PST · by abb · 32 replies · 92+ views
    Pacific Business News ^ | December 14, 2007 | Staff
    USA Today will no longer be printed in Hawaii and its distribution will be significantly scaled back after Dec. 28. The nation's largest circulation newspaper, which had been printed and distributed by The Honolulu Advertiser for three years, will stop delivering to hotel rooms, subscribers and hundreds of news racks around the Islands at the end of the month. Instead, newspapers will be flown in from the West Coast every weekday afternoon for sale at a limited number of locations, mostly at airports. The move was made to cut costs. Advertising revenue at USA Today was down 6.1 percent in...
  • Gannett (GCI) stock price lowest in over ten years

    12/05/2007 2:11:58 PM PST · by abb · 16 replies · 31+ views
    MSN Money ^ | December 5, 2007 | Staff
    Gannett Sees 4Q in Range of Wall Street 11:16 AMNEW YORK (AP) - Gannett Co., the largest newspaper publisher in the country and owner of USA Today, on Wednesday guided for fourth-quarter profit in range of Wall Street's expectations. AP
  • Gannett October Revenue Sinks on Local and Classified Ad Decline (Dinosaur Media DeathWatch™)

    11/19/2007 12:05:32 PM PST · by abb · 9 replies · 39+ views
    Editor & Publisher ^ | November 19, 2007 | Staff
    ARLINGTON Gannett Co., publisher of USA Today, said Monday its October revenue slipped 6.8 percent mostly on declines in local and classified advertising sales. The newspaper publisher's pro forma operating revenue fell to $710.4 million from $762.5 million in the prior year. Pro forma assumes all properties currently owned were owned in both periods. Gannett said its U.K. operations benefited from the British pound's strengthening exchange rate during the period. Total advertising revenue dropped 5.3 percent to $461.1 million from $486.7 million. Local advertising sales declined 2.3 percent, while classified ad revenue slid 9.7 percent on weakness in real estate,...
  • USA Today to eliminate 45 newsroom positions (Dinosaur Media DeathWatch™)

    11/15/2007 11:46:16 AM PST · by abb · 35 replies · 50+ views
    PoynterOnline ^ | November 15, 2007 | Ken Paulson
    Topic: Memos Sent to Romenesko Date/Time: 11/15/2007 2:03:54 PM Title: USA Today to eliminate 45 newsroom positions Posted By: Jim Romenesko Memo from USA Today's editor To: The Newsroom Staff From: Ken Paulson We had a full auditorium at today's staff meeting, but I wanted to follow up with a brief note for those who were unable to join us in person or by phone. At today's meeting, we discussed the economic realties that will require elimination of 45 newsroom positions. It's unfortunate that we have to take these steps, particularly when our newspaper circulation is growing and has...
  • Morgan Stanley to lay off 300 employees (Dinosaur Media DeathWatch™)

    10/17/2007 10:37:56 PM PDT · by jdm · 9 replies · 268+ views
    New York Business ^ | October 17, 2007 | Kira Bindrim
    Morgan Stanley said Wednesday that it will eliminate about 300 jobs in its institutional securities division, including nearly 200 in the firm’s Manhattan-based fixed-income, equities and investment banking units. The remaining 100 cuts will affect Morgan’s overseas divisions, primarily in Europe. Some jobs will be moved to growing markets in Asia or India, the company said. “As part of our year-end process, we are selectively resizing some of our businesses to reflect current market conditions as well as reallocating resources to those regions outside the U.S. where we see the best potential for growth,” said a Morgan spokesperson. Although the...
  • Gannett Earnings Drop 11 Percent (Dinosaur Media DeathWatch™)

    10/17/2007 6:36:10 AM PDT · by Milhous · 11 replies · 85+ views
    AP ^ | October 17 2007
    MCLEAN, Va. (AP) -- Gannett Co., the largest newspaper publisher in the country and owner of USA Today, said Wednesday third-quarter earnings fell 11 percent, as revenue slipped from a year-ago period boosted by spending on political advertising.Net income dropped to $234 million, or $1.01 per share, in the three months ended Sept. 30 from $261.4 million, or $1.11 per share, in the year-ago period. The latest quarter included a charge of $14.5 million for restructuring costs.Analysts polled by Thomson Financial expected profit of $1 per share. The estimates typically exclude one-time items.Revenue fell 4 percent to $1.81 billion from...
  • Gannett Planning Newspaper Size Reduction At Several Papers (Dinosaur Media DeathWatch™)

    09/21/2007 11:23:54 AM PDT · by abb · 14 replies · 351+ views
    Editor & Publisher ^ | September 21, 2007 | Joe Strupp
    NEW YORK After completing a two-year conversion of its 85 daily papers from 52-inch web size to 48-inch, Gannett Co. Inc. is conducting a national review for a possible second size cut to 44-inch web. The Visalia (Calif.) Times-Delta, a 23,174-daily circulation Gannett paper, already made the cutback in August, reducing its size to the 44-inch web, and plans are in the works to make similar changes soon at The Salinas (Calif.) Californian and The Spectrum in St. George, Utah, according to Austin Ryan, vice president/production for Gannett. "I think the decision has been made, but I don't know what...
  • Gannett August Sales Down 3.5 Percent (Dinosaur Media DeathWatch™)

    09/17/2007 3:51:06 PM PDT · by abb · 10 replies · 23+ views
    Yahoo Biz ^ | September 17, 2007 | Staff
    Gannett August Revenue Declines 3.5 Percent With Classified, Local Ad Sales Weakness MCLEAN, Va. (AP) -- USA Today publisher Gannett Co. said Monday its August revenue declined 3.5 percent, due mostly to declines in classified and local advertising sales. For the period that ended Sept. 2, Gannett's pro forma operating revenue declined to $555.8 million from $576.2 million in the year before. Gannett said its UK operations benefited from the British pound's strengthening exchange rate during the period. Pro forma assumes all properties currently owned were owned in both periods. The company said its total advertising revenue declined 6 percent...
  • Gannett July Revenue Slips 4.3 Percent (Dinosaur Media DeathWatch™)

    08/20/2007 6:30:29 AM PDT · by abb · 11 replies · 313+ views
    Yahoo Biz ^ | August 20, 2007 | Staff
    Gannett Revenue Drops on Weakness in Classified, National Ads MCLEAN, Va. (AP) -- Gannett Co., which publishes USA Today, said Monday its July revenue dropped 4.3 percent on weakness in classified and national advertising, along with a continued decline in broadcasting revenue. Pro forma operating revenue for the period ended Aug. 5 fell to $626.1 million from $654.5 million in the prior year. The company's U.K. operations benefited from an increase in the value of the British pound. Pro forma assumes all properties currently owned were owned in both periods. Total newspaper ad revenue slid 6.1 percent to $408.2 million...
  • Cutbacks at The Tennessean (Nashville Gannetoids - Dinosaur Media DeathWatch™)

    07/25/2007 2:06:48 PM PDT · by abb · 11 replies · 286+ views
    Nashville Scene ^ | July 25, 2007 | Liz Garrigan
    Cutbacks at The Tennessean 1100 Broad sees shrinking news hole, a hiring freeze and an end to TV listings in rack copies by Liz Garrigan After weeks of rumors that layoffs were coming to 1100 Broadway, publisher Ellen Leifeld led a series of grim newsroom meetings Tuesday announcing that the company would be offering “voluntary separation” packages to 15 staffers. Many more than 15 employees are expected to “apply” for the packages, which will give employees two weeks of pay for every year of service. The news comes amid a series of recent cost-cutting measures at the paper, including implementing...