July 17, 2008 |
Gannett Co., the nation's largest newspaper publisher, reported a 36% drop in second-quarter earnings as the newspaper industry's woes caused a sharp decline in revenue. The McLean, Va., company reported profit of $233 million, or $1.02 a share, compared with $366 million, or $1.56, in the year-earlier quarter. Gannett shares dropped 78 cents, or 4.5%, to $16.57. The publisher of the nation's largest newspaper, USA Today, and 84 other dailies sold several papers in the year-ago quarter that added 32 cents a share to earnings.
October 30, 2007 |
Tribune Co. and Gannett Co. said Monday that they were working on a joint venture to expand Tribune's Metromix local entertainment website network throughout the United States in a bid for more revenue from national advertisers. Metromix will be owned equally by Chicago-based Tribune and Gannett, based in McLean, Va.
April 10, 2007 |
An arbitrator found that Tribune Co.'s sale of the Advocate of Stamford, Conn., to Gannett Co. violated a union contract because the terms do not require Gannett to honor newsroom employees' collective bargaining agreement, according to court papers filed by the union. Local 2110 of the United Automobile, Aerospace and Agricultural Implement Workers of America promptly filed a request to extend an injunction that a federal judge issued last month temporarily blocking the sale.
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.
November 12, 2006 |
Turning up the heat on the already simmering auction for the assets of Chicago-based Tribune Co., Gannett Co., the nation's largest newspaper publisher, has emerged as a possible bidder for Tribune's newspaper properties, the Chicago Tribune learned Saturday. Executives from the McLean, Va.-based media giant, which publishes 90 U.S. newspapers, including top-read USA Today, were in Chicago last week to hear presentations on Tribune's financial condition, two sources close to the situation said.
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.