gannett co (GCI) Key Developments
Icahn Urges Gannett To Be Open To Takeover
Jan 22 15
Carl Icahn is urging Board of Gannett Co., Inc. (NYSE:GCI) to be open to takeover offers after Gannett splits its print and broadcasting divisions. Icahn wants Gannett to adopt a charter provision saying it won’t institute a poison pill, which is designed to thwart unwanted takeover offers, without the approval of shareholders. “These proposals are an important first step towards protecting Gannett shareholders, preserving their rights and making it simpler for either company to be acquired if shareholders wish to see this effectuated,” wrote Carl Icahn, who holds a 6.6% stake in Gannett. Gannett said in a separate statement that it will evaluate Icahn’s proposals.
Gannett Plans to Close Printing Plant in St. Louis
Jan 20 15
Gannett will close its St. Louis printing plant by mid-March, affecting 19 employees.
Gannett Co., Inc. Appoints Al Getler President and Publisher of the Burlington (VT) Free Press
Jan 6 15
Gannett Co., Inc. named Al Getler as president and publisher of The Burlington (VT) Free Press. Getler previously served as group publisher of the North of Boston Media Group. Getler returns to Gannett where he spent nearly a decade with the Newspaper Network of Central Ohio, working in various marketing and circulation roles as well as publisher of The Advocate. Getler has also worked for The Record in Troy, NY, The Press of Atlantic City (NJ) and the North Jersey Media Group.
Gannett Names Daniel Norselli as President of Springfield News-Leader and Baxter Bulletin
Dec 22 14
Gannett Co., Inc. has named Daniel Norselli as president and publisher of the Springfield, Missouri, News-Leader and The Baxter Bulletin in Mountain Home, Arkansas. Norselli was previously senior digital sales director for the Democrat & Chronicle Media Group in Rochester, NY. Prior to his work in Rochester, Norselli was global strategic sales director for Monster Worldwide, Inc., overseeing sales for all digital products and services. Norselli came to Monster Worldwide after working as regional sales director for Saber Design & Analysis, a Siemans Reseller. Norselli has also worked as field sales manager for Autodraft, Inc., an Autodesk reseller, and Vector Marketing, as pilot sales manager and branch manager.
Gannett Co. Provides Earnings Guidance for the Years 2014 and 2015
Dec 10 14
Gannett Co. provided earnings guidance for the year 2014. For the year, the company expected revenue growth of approximately 16% on a company-wide basis in 2014 over 2013. Broadcasting revenues on a pro forma basis are projected to be approximately 19% above 2013, with fourth quarter revenue growth forecast to be in the 23%-25% range.
For the year 2015, the company expected retransmission revenue of $440 million to $445 million versus compared to its 2014 estimate of $365 million, capital expenditures of $135 million to $140 million compared to its 2014 estimate of $160 million to $170 million.