March 7, 2007 |
Tribune Co. said it agreed to sell its daily newspapers in Stamford and Greenwich, Conn., to Gannett Co. for $73 million. The Greenwich Time and the Advocate of Stamford have a combined circulation of 39,000 and are the smallest of the 11 dailies owned by Chicago-based Tribune, which also owns the Los Angeles Times. Tribune is the No. 2 U.S. newspaper publisher by circulation behind McLean, Va.-based Gannett.
October 12, 2006 |
Gannett Co., the largest U.S. newspaper publisher, posted a 12% drop in third-quarter profit after selling fewer classified and car advertisements. The company's shares posted their biggest decline in a year as overall sales fell short of analysts' estimates. Profit declined to $261.4 million, or $1.11 a share, from $297 million, or $1.13, a year earlier, McLean, Va.-based Gannett said. Sales rose 2.7% to $1.91 billion, less than the $1.
August 2, 2006 |
Gannett Co. and Tribune Co., the two biggest U.S. newspaper publishers, will pay McClatchy Co. $310 million to gain a larger share of CareerBuilder.com and two other websites. The transaction values the biggest U.S. help-wanted site at $1.55 billion, the companies said. Each will pay $142 million to increase their stakes in CareerBuilder to 42.5%.
July 13, 2006 |
Gannett Co., the largest U.S. newspaper publisher, said Wednesday that second-quarter profit fell 8.3% as newsprint costs jumped and advertising growth stalled. Net income dropped to $310.5 million, or $1.31 a share, from $338.6 million, or $1.37, a year earlier, McLean, Va.-based Gannett said. Stock option costs cut earnings by 3 cents a share. Sales gained 6.1% to $2.03 billion, buoyed by the purchase of the Detroit Free Press.
April 13, 2006 |
Gannett Co., the nation's biggest newspaper publisher, reported an 11.5% decline in fiscal first-quarter earnings Wednesday as softer advertising and stock expenses weighed down results. Also, Gannett's chairman, Douglas McCorkindale, said in a conference call that the company wasn't participating in the auction of 12 newspapers owned by Knight Ridder Inc. that were being sold by Knight Ridder's buyer, Sacramento-based McClatchy Co.
March 28, 2006 |
* Gannett Co. said its employment contract with Chairman Douglas McCorkindale, who has indicated that he intends to retire, would not be renewed in June.