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Gannett Media Corp.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Nov 5, 2019. Its latest SEC filing is a SC TO-I/A from Jan 2, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Publishes local and national news in print and digital formats and sells advertising and marketing services to local businesses and national advertisers.

How Did They Make Money?

Advertisers pay for print ads when they are printed and digital ads when placed; ReachLocal clients typically prepay monthly as Gannett provides media and marketing services. Readers pay for single copies as newspapers are distributed or for subscriptions over their term, usually on monthly billing; commercial printing revenue comes when products are delivered.

revenue

Who Were Their Customers?

Local merchants and national advertisers work with Gannett’s sales teams for print and digital ads and marketing; local businesses may also be served through agencies or resellers. Readers buy subscriptions or single copies directly or through retail outlets.

Did Revenues Turn Into Profits?

Yes. It kept 1 cent of every revenue dollar as net income in .

Operating income,
1% of revenue
▼ −57% vs ($67.6M, 2%)
Net income,
1% of revenue
▲ +118% vs ($6.9M, 0%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Sep 30, 2019
Revenue
▼ −11%
vs $711.7M in Q3 FY2018
Net income
▼ −20%
vs $13.4M in Q3 FY2018
  • Nov 20, 2019 New Media completed its acquisition of Gannett Gannett became an indirect wholly owned subsidiary, and the combined company operates as Gannett Co., Inc.
  • Nov 4, 2019 Gannett cut its 2019 revenue outlook The forecast changed to $2.61-2.63 billion from $2.74-2.81 billion.
  • Aug 6, 2019 Gannett agreed to be acquired by New Media The agreement called for a cash-and-stock purchase, with Paul Bascobert to lead Gannett’s operating subsidiary.
  • May 6, 2019 Gannett CEO Robert Dickey retired; Barbara Wall became principal executive officer

Shrank. Revenue fell 8% in 4 years, from $3.2B in to $2.9B in , about 2% a year.

Owned marketing tools The latest report describes owned digital marketing offerings through ReachLocal and WordStream, including advertising, software and web presence for small and midsize businesses; the older report described marketing and data services and a strategic relationship with G/O Digital.

Who Did They Compete With?

Competes with Fox News, CBSnews.com, New York Times Digital, BuzzFeed.com, and WashingtonPost.com

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