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.
March 24, 2006 |
Gannett Co., the largest newspaper publisher in the country, said it expected to report first-quarter earnings at the low end of Wall Street estimates. Analysts surveyed by Thomson Financial on average said the company, which publishes USA Today and 90 other daily U.S. newspapers, would earn 98 cents to $1.02 a share.
March 11, 2006 |
The easy job for directors of newspaper giant Knight Ridder Inc. this weekend may be choosing the best of at least two offers for the company, experts said Friday. The tougher question: whether to sell at all. Neither Knight Ridder nor its suitors are talking, but news accounts have identified McClatchy Co., owner of the Sacramento Bee and 11 other daily newspapers, as the top bidder. The deal could turn the mid-size Sacramento-based company into the nation's No.