Gannett Announces Strategic Organizational Restructuring

Rhea-AI Summary

Gannett Co., Inc. (NYSE: GCI) announced a strategic restructuring, launching two business units: Gannett Media and Digital Marketing Solutions (DMS). Under the leadership of Maribel Perez Wadsworth and Kris Barton, respectively, this reorganization aims to enhance consumer and B2B operations, fostering sustainable revenue and cash flow growth. The focus on digital customer engagement and subscriber growth is intended to optimize Gannett's legacy business while expanding digital offerings, positioning the company for future success.

Positive

• Creation of two distinct business units to optimize operations.
• Experienced leadership appointed for both Gannett Media and DMS.
• Focus on subscriber growth and enhancing customer satisfaction.
• Strategic alignment of resources with growth opportunities.

Negative

• None.

Company announces two distinct business units: Gannett Media and Digital Marketing Solutions to drive subscription-led strategy

MCLEAN, Va.--(BUSINESS WIRE)-- Gannett Co., Inc. ("Gannett", "we", "us", "our", or the "Company") (NYSE: GCI) today announced a strategic organizational restructuring with the creation of two new U.S. operating business units, Gannett Media and Digital Marketing Solutions (DMS), which will be led by Maribel Perez Wadsworth and Kris Barton as Presidents of each business respectively. The evolved corporate structure is designed to align Gannett’s subject matter expertise and resources with favorable growth opportunities.

“This reorganization ensures our consumer and B2B businesses are strategically optimized for our next stage of growth with incredibly experienced leadership at the helm while championing our culture of inclusion and driving our long-term goals for sustainable revenue and cash flow growth,” said Michael Reed, Gannett Chairman and Chief Executive Officer. “Improving the efficiency of our operations will enable the acceleration of Gannett’s digital future as a data and technology subscription-led business.”

As President of Gannett Media, Wadsworth will oversee an expansive organization that prioritizes content, news, business-to-business (B2B) and commitment to subscribers while continuing to accelerate Gannett’s digital subscriber growth. She and her team will focus on the subscriber journey, ensuring customer satisfaction and attracting new audiences by optimizing the legacy business to drive print stabilization and digital growth for the media organization with a digital-first lens on all efforts.

Wadsworth is uniquely qualified for this role as she has been an instrumental member of Gannett for more than 25 years, dating back to her start as a reporter at the Rockford Register Star in Illinois. Her business and industry expertise includes running Gannett’s news division overseeing more than 4,000 journalists across more than 230 local news organizations and the flagship publication USA TODAY. In 2015, she was named Gannett’s first Chief Strategy and Transformation Officer and has helped architect Gannett’s digital subscription strategy. She is also a recognized leader in the development of women and minority leaders in the newsroom, currently serves on the board of directors of the Associated Press and Skillshare, and as Chair of the News Media Alliance, and President of the International News Media Association. She also is a trustee of her alma mater, the University of Miami.

“It is both a great a privilege and responsibility to lead Gannett Media as we build a strong future,” said Maribel Perez Wadsworth, President of Gannett Media. “My focus is on strengthening our journalism – this is our mission, and dramatically diversifying our content portfolio for growth – this is our promise as a vibrant, next-generation media company.”

As President of Digital Marketing Solutions, Barton brings a unique mix of business, design and technical acumen to the position. He is dedicated to growing DMS offerings as a differentiated marketing platform. He and his team will further the transformation of the DMS business to ensure loyalty from existing customers who value the platform while attracting new customers to engage with the available digital solutions. This includes building a complementary business model with streamlined, do-it-yourself SaaS offerings for new customer segments.

Barton’s expertise makes him the most equipped to drive the next phase of innovation. He has served as Gannett’s Chief Product Officer since 2017, leading product development for Gannett’s consumer and marketing products. Previously, he led a global team as ReachLocal’s Chief Product Officer overseeing product and technology, receiving dozens of industry awards including Google and Microsoft innovation honors. Barton served as Chief Operating Officer at Nero, a multimedia software company, and was instrumental in developing a strategy that enabled the company to become the largest mobile software developer for Android devices. He held various leadership roles at Microsoft Corporation leading the global teams for MSN.com across over 50 countries, as well as for Microsoft Office where he also ran incubation teams that converted traditional Microsoft software applications to SaaS solutions pioneering Web 2.0. Barton is a graduate of Brigham Young University.

“It is a great privilege to serve as President of the Digital Marketing Solutions business and work with best-in-class category experts helping drive the future of Gannett, but more importantly, to provide digital solutions for thousands of local businesses across the country,” said Kris Barton, President of Digital Marketing Solutions. “Local businesses are core to the character and economies of our communities around the world, now more than ever. As consumers continue to demand more, we’ll ensure we continue to offer touchpoints and solutions that help propel their businesses and fuel their growth powered by our innovation, data and technology.”

ABOUT GANNETT

Gannett Co., Inc. (NYSE: GCI) is a subscription-led and digitally-focused media and marketing solutions company committed to empowering communities to thrive. With an unmatched reach at the national and local level, Gannett touches the lives of millions with our Pulitzer Prize-winning content, consumer experiences and benefits, and advertiser products and services. Our current portfolio of media assets includes USA TODAY, local media organizations in 45 states in the U.S., and Newsquest, a wholly owned subsidiary operating in the United Kingdom with more than 150 local news media brands. Gannett also owns digital marketing services companies branded LOCALiQ, and runs one of the largest media-owned events business in the U.S., USA TODAY NETWORK Ventures. To connect with us, visit www.gannett.com.

Cautionary Statement Regarding Forward-Looking Statements

Certain items in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including statements regarding our environmental, social or governance targets, goals, commitments and programs, and other business plans, initiatives and objectives. Words such as “expect(s)”, “plan(s)”, “believe(s)”, “will”, “target”, “goal”, “focus”, “achieve”, “strive(s)”, “commit(s)”, “intend(s)”, “look forward to” and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future results. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond our control. Actual results could differ materially due to a variety of factors, including the success of the reorganized company, its focus, strategies and initiatives, scientific or technological developments or changes, our evolving environmental, social, and governance strategies, evolving government regulations, inaccurate or unattainable assumptions we make, and other changes in circumstances. For a discussion of some of the risks and important factors that could cause actual results to differ from such forward-looking statements, see the risks and other factors detailed from time to time in the Company’s most recent Annual Report on Form 10-K, our quarterly reports on Form 10-Q, and our other filings with the Securities and Exchange Commission. The Company can give no assurance its expectations will be attained or its strategies will be successful. Accordingly, you should not place undue reliance on any forward-looking statements contained in this release. Furthermore, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this release or as otherwise indicated. Except to the extent required by law, the Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220601006005/en/

MEDIA CONTACT

Lark-Marie Antón

Chief Communications Officer

(646) 906-4087

lark@gannett.com



INVESTOR RELATIONS

Trisha Gosser

Senior Vice President, Investor Relations

(703) 854-3000

investors@gannett.com

Source: Gannett Co., Inc.

FAQ

What is Gannett's new business structure?

Gannett has announced a restructuring into two business units: Gannett Media and Digital Marketing Solutions.

Who leads Gannett Media and Digital Marketing Solutions?

Maribel Perez Wadsworth leads Gannett Media, while Kris Barton heads Digital Marketing Solutions.

What is the goal of Gannett's restructuring?

The goal is to drive subscription-led growth and improve operational efficiency.

How does Gannett plan to enhance subscriber growth?

Gannett aims to focus on customer satisfaction and optimizing its legacy business for digital growth.

What is the stock symbol for Gannett?

Gannett's stock symbol is GCI.