June 17, 1987 |
USA Today, the Technicolor national newspaper launched by Gannett Co. five years ago, turned a profit in May for the first time, although it will fall back into the red during the summer and lose money for the year, the company announced Tuesday. The paper earned roughly $1 million in operating profit in May, following a loss in April of $900,000, Gannett said.
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.
November 29, 1989 |
The Detroit News and Detroit Free Press reached a tentative contract with employees Tuesday that smoothed the start of their joint operating agreement and calmed fears of holiday advertisers. "We're delighted we have a settlement," said Robert Giles, president and publisher of the News, owned by Gannett Co. "We expected to be able to work it out on an amicable basis, and we did."
October 2, 1990 |
The Gannett Foundation said Monday that it had rejected a bid from Gannett Co. to buy its 10% share in the company for $540 million and that it was formally authorizing its investment bankers to explore other offers. The rejection is the latest turn in the strange feud between querulous former Gannett Chairman Allen H. Neuharth, who controls the foundation, and his old company.
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 14, 1999 |
A federal judge blocked the planned shutdown of the Honolulu Star-Bulletin until the state's antitrust lawsuit against the newspaper's owner and its only competitor is decided. The state argues that newspaper giant Gannett Co., which owns the morning Honolulu Advertiser, in effect paid off Liberty Newspapers Limited Partnership, the owner of the afternoon Star-Bulletin, to create a monopoly.
January 28, 2006 |
Gannett Co. reported a 9% decline in fourth-quarter earnings Friday because of expenses from its swap of newspapers in Detroit and the absence of election-year advertising. The publisher of USA Today and 90 other daily newspapers in the U.S. reported earnings of $343 million, or $1.44 a share, in the quarter ended Dec. 25, compared with $378 million, or $1.47, a year earlier. Still, the earnings beat Wall Street's consensus estimate of $1.41. Gannett's shares rose $2.59, or 4.2%, to $63.