Welcome to our dedicated page for Gannett Co. news (Ticker: GCI), a resource for investors and traders seeking the latest updates and insights on Gannett Co. stock.
Gannett Co., Inc. (symbol: GCI) is a leading media and marketing company with a unique local-to-national reach that successfully connects consumers, communities, and businesses. The company is best known for its iconic publication, USA TODAY, and operates 92 strong local media organizations across 33 states and Guam. In the U.K., Gannett is represented by Newsquest, which oversees more than 160 local news brands online.
Gannett provides rich content through an extensive portfolio of digital, mobile, and print products, reaching more than 95 million unique visitors each month. This makes the company one of the top 10 news and information providers in the U.S. Additionally, its U.S. newspapers attract an extra audience of 9 million readers every weekday.
The company is divided into three main segments: Domestic Gannett Media, Newsquest, and Digital Marketing Solutions. The majority of its revenue comes from the Domestic Gannett Media segment, which includes more than 250 daily newspapers and digital marketing service companies like ReachLocal and WordStream. Besides traditional media, Gannett also produces over 350 annual events, ranging from themed expos to community gatherings.
Gannett continues to thrive by leveraging advancements in technology, digital media, and print publishing. Its 360-degree storytelling approach ensures that audiences, whether in local townships or on national stages, stay informed about what matters most to them. The company's dedication to community engagement and high-quality journalism is evident in its widespread reach and loyal readership.
Gannett Co. (NYSE: GCI) announced participation in the 29th Annual Deutsche Bank Media, Internet & Telecom Conference on March 10, 2021, featuring Chairman and CEO Michael Reed and CFO Doug Horne. The event will be broadcasted and subsequently available as an archived audio webcast in the Investor Relations section of Gannett's website. Gannett is a leading media and marketing solutions company with extensive national and local reach, encompassing USA TODAY and several local media organizations across 46 states, alongside its digital marketing subsidiaries.
Gannett Co. reported its Q4 and full-year 2020 financial results, revealing a net loss of $122.2 million for Q4 and $670.5 million for the year. Despite a 25.2% revenue increase in Q4 to $875.4 million, driven by the acquisition of Legacy Gannett, same-store pro forma revenues fell 16.3%. Digital revenues accounted for 25.5% of total revenues. The company emphasized progress in digital transformation and subscription growth, surpassing 1 million digital subscribers. Gannett plans to implement a subscription-led growth strategy aimed at increasing stockholder value and reducing debt.
Gannett Co. (GCI) and McClatchy are enhancing local advertising effectiveness by combining their media networks. This partnership allows national brands to engage with local audiences across major markets, reaching about 200 million digital and 8.4 million print consumers. The USA TODAY national sales team will facilitate access to this combined audience, providing targeted advertising solutions. Key executives expressed optimism about improved local audience reach and innovative advertising strategies aimed at delivering a strong ROI for clients.
Gannett Co., Inc. (NYSE: GCI) appointed Vinayak Hegde as an independent director to its Board of Directors, effective February 15, 2021. His extensive digital and operational experience is anticipated to add significant value to Gannett's management and strategic objectives. Hegde is currently the President and COO of Blink Health, with a notable background including roles at Airbnb and Groupon, where he contributed to substantial revenue growth. Gannett, focused on digital media and marketing, aims to enhance its community ties and improve operational efficiency.
Gannett Co. (NYSE: GCI) will announce its fourth quarter and full year 2020 financial results on February 25, 2021, before the NYSE opening. A conference call is scheduled for the same day at 8:30 A.M. Eastern Time, accessible via phone or webcast. A replay of the call will be available afterward until April 8, 2021. Gannett is a digitally focused media and marketing solutions company, with a diverse portfolio including USA TODAY and over 140 brands in the UK through its subsidiary Newsquest.
USA TODAY, part of Gannett Co. (NYSE: GCI), announced that Rocket Mortgage’s commercial, “Certain Is Better – Tracy Morgan, Dave Bautista & Liza Koshy,” was voted the top ad in the 33rd Super Bowl Ad Meter. This is Rocket Mortgage’s first win, and their second ad also finished second. The ads received ratings of 7.38 and 7.30, respectively, marking the first time a brand secured both top spots since 2007. The voting took place from February 3 to February 8, and highlights the growing significance of Super Bowl commercials among viewers.
Gannett Co. (NYSE: GCI) has priced a $1.045 billion Term Loan B to refinance its existing 11.5% term loan, expected to close early next week. The new loan offers significant interest savings of 375 basis points, translating to approximately $90 million in cash interest savings in 2021. This refinancing aligns with Gannett's strategy to reduce debt, aiming for a first lien net leverage ratio below 1.0x in two years. Following these transactions, total debt will be $1.545 billion, including various existing notes.
USA TODAY, part of Gannett Co. (NYSE: GCI), has launched its 33rd Ad Meter program, an evaluation system for Super Bowl ads, sponsored by Kia Motors. Participants can rate ads starting Feb. 3, with ratings closing on Feb. 8 at 1 a.m. ET. This year introduces Replay Ratings, allowing votes for ad categories. The partnership with YouTube will provide data insights, enhancing the Ad Meter experience. The winner will be revealed on Feb. 8 at 8:30 a.m. ET, followed by an industry commentary session. Ad Meter aims to engage audiences and advertisers.
Gannett Co., Inc. (NYSE: GCI) reported preliminary fourth-quarter financial results for 2020, with revenues estimated between $865M to $875M and a net loss before taxes ranging from $135M to $130M. Adjusted EBITDA is projected at $142M to $147M. The revenue growth is attributed to a rebound in advertising trends and a notable 46% increase in digital-only circulation. The company has also reduced its term loan by $654M, achieving a total debt balance of approximately $1.575 billion. Gannett aims to refine its financial strategy in 2021 with expectations of improved performance.
Gannett Co. (NYSE: GCI) CEO Michael Reed discussed the company's growth strategy at the 23rd Annual Needham Growth Conference. He emphasized plans to aggressively grow digital-only subscriptions to 10 million in five years and enhance digital marketing services for small to medium businesses. Reed highlighted the progress made since the merger, including debt reduction and integration of legacy companies. The archived video of the presentation is available on Gannett’s Investor Relations site, showcasing their commitment to community engagement and innovative media solutions.
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