Gannett

POYNTER

Why Gannett is likely to win its takeover bid for Tribune Publishing

(Updated to include Gannett comment that it will keep Tribune Publishing intact) Despite initial resistance from Tribune Publishing's management, financial logic suggests that Gannett will ultimately succeed in acquiring the company. Consider that Gannett's $815 million offer is a 60 percent-plus premium on the trading value of Tribune Publishing. Tribune's board has a fiduciary duty to consider the proposal … Read More
POYNTER

Tribune Publishing, fresh from a strategic pivot, is weighing a surprise offer from Gannett

Tribune Publishing was clearly sideswiped. Monday's announcement of a bid for the company from Gannett for $815 million, or $12.25 per share for stock languishing of late at around $7, was met with obvious surprise by Tribune. "I want to update you on a recent development," Justin Dearborn, the new chief executive who comes from the healthcare industry, began … Read More
POYNTER

Newspaper kingpins launch marketing consortium

Four of America's largest newspaper companies on Thursday announced a marketing cooperative in a bid to bring national advertising to their regional and local properties. Nucleus Marketing Solutions, a joint initiative from Gannett, McClatchy, Hearst and Tribune Publishing, aims to provide marketing services to 70 percent of consumers in the top 30 U.S. advertising markets, according to a press release … Read More
POYNTER

Can the Billy Penn model for local news work beyond Philadelphia? We're about to find out.

Jim Brady, the man behind Billy Penn, began the Philadelphia news startup with the ambition of putting his vision for local news to the test. Mobile-first. Events-focused. Extremely active on social media. In less than two years, Billy Penn has emerged as a convener and chronicle of Philadelphia, at once covering the city's critical issues and attempting to rally … Read More
POYNTER

Gannett's revenues are down almost 10 percent, but it expects to make another acquisition soon

Gannett turned a small profit in the fourth quarter of 2015 with healthy digital revenue growth more than offset by weak results in print advertising and circulation. Total revenue was down 9.7 percent compared to the same period in 2014, and net income was $20.4 million, a profit margin of 2.6 percent — low by Gannett standards. While accounting and … Read More
POYNTER

Gannett rebrands its local papers as USA TODAY Network

In a slightly cryptic rebranding maneuver, Gannett is removing its own name from the digital sites of its 92 local newspaper organizations and describing them as part of the USA TODAY Network. The new style has been piloted at The Courier Journal of Louisville. The company announced today that it will be rolled out to all of its local … Read More
POYNTER

Tribune Publishing indicates that it does want to buy the Orange County Register

Tribune Publishing took legal action today confirming speculation that it hopes to buy Freedom Communications and its Orange County Register out of federal bankruptcy court. At a hearing, the Wall Street Journal reported, Tribune offered to contribute $3 million to the bankruptcy in exchange for a right to bid on the property when the proceedings are completed. Under … Read More
POYNTER

Bucking the industry trend, New York Times Co. shows revenue growth in 3rd quarter

As Gannett and New Media Investment Group saw financial results dragged down by deep print ad revenue declines in third quarter earnings reports today, the New York Times posted a small revenue gain of 0.7 percent. The Times held print ad losses to 0.9 percent compared to the same quarter in 2014. Digital ad revenues were down … Read More
POYNTER

What Gannett gets by getting bigger and why newspaper consolidation will continue

For three different reasons, Gannett's surprise acquisition Wednesday of Journal Media Group (the former Scripps papers and the Milwaukee Journal-Sentinel) makes a lot of sense: -- In the era of digital transformation, bigger is better. A larger audience translates to better prospects for digital ad sales. The combined operations will have 100 million monthly uniques, according to the … Read More
POYNTER

Gannett to buy Journal Media Group for $280 million

The sign by Gannett's (now TEGNA) headquarters is seen in McLean, Virginia in 2010. (AP Photo) Newspaper giant Gannett announced on Wednesday it has inked a deal to purchase Journal Media Group for $280 million. The deal will enlarge Gannett, already the largest U.S. newspaper publisher by revenue, as it adds Journal's 15 dailies and 18 weeklies to … Read More
POYNTER

Virtual reality news is becoming a reality in many newsrooms

A story doesn't POINT you there, it PUTS you there. In a sense, a story is a form of transportation. It lifts you from where you are reading and carries you to another time and another place. Roy Peter Clark may not have been thinking about virtual reality when he wrote about the differences between a story and a … Read More
POYNTER

Gannett takes the idea behind Arizona Storytellers Project nationwide

The audience watches the 125th anniversary of the Arizona Republic "Stories About Stories" Storytellers event at Phoenix Theatre on Monday, May 18, 2015. (Photo by Michael Schennum/Arizona Republic) Next week at the Online News Association's annual conference, a group of journalists from nine Gannett newspapers will spend a few hours learning how to workshop a story before trying … Read More
POYNTER

New day for Gannett newspapers — they're on their own

The 19,600 employees of Gannett newspapers coming to work Monday will be working for a new company -- untethered from growing and prosperous television stations and digital ventures. Retaining the Gannett name, the spin off company has well defined plans for digital transformation and for expansion by acquisition.  Its reception by Wall Street is less certain, but it is sweetening … Read More
POYNTER

Gannett acquires 11 Digital First Media properties

StreetInsider | York Daily Record Newspaper giant Gannett today announced it was acquiring 11 properties from Digital First Media, including the El Paso Times, The Alamogordo (New Mexico) Daily News and the York (Pennsylvania) Daily Record. The acquisitions come shortly before before Gannett splits into two companies — TEGNA, which will retain the company's broadcast properties, and Gannett, … Read More
POYNTER

Publishing revenue declines continue at Gannett on the eve of spinoff

Gannett opened 2015 with a first quarter earnings report similar to those of 2014 -- strong growth and profits in its broadcast and digital ventures divisions, but continued substantial declines in publishing revenues. With publishing set to spin off into a separate company mid-year, the era of the one covering for the other is coming to a close. Advertising … Read More