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.
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.