Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Gannett Shares Jump as Demand for Advertising Grows

Don't Miss Out —
Follow us on:

Sept. 11 (Bloomberg) -- Gannett Co., the owner of television stations and 82 daily newspapers including USA Today, jumped the most in more than two months as the U.S. presidential election helps spur demand for advertising.

Gannett, based in McLean, Virginia, rose 4.3 percent to $17 at the close in New York, the biggest gain since June 26.

The stock is undervalued, partly because investors overstate Gannett’s dependence on the declining print industry, said James Goss, an analyst with Barrington Research Associates Inc. in Chicago. Gannett’s local TV stations have benefited from demand for advertising during the Olympics and the presidential race, he said. Gannett also has a controlling stake in the jobs website CareerBuilder.com.

“This has been a value name for us,” said Goss, who recommends buying the shares. “They’re not just dependent on print circulation.”

Shares of the company, which is marking the 30th anniversary of USA Today this month, have climbed 27 percent this year.

To contact the reporter on this story: Edmund Lee in New York at elee310@bloomberg.net

To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.