Taboola Signs Three-Year Strategic Partnership with Gannett Co., Inc
Aug 5 15
Taboola has announced it has signed an exclusive, three-year strategic partnership with Gannett Co., Inc. The deal is worth an estimated $55 million and Taboola's recommendations will be seamlessly integrated across Gannett's vast network of digital publishing assets in more than 110 markets. Using advanced data analysis of audience behavior, the companies will work together to provide relevant and engaging content recommendations for Gannett's audience. Taboola's predictive engine analyzes hundreds of real-time signals (including collaborative filtering, geography, context, referral source, social media trends, and more) to match people with specific content in which they are most likely to be interested.
InnerWorkings, Inc. Expands Marketing Execution Partnership with Gannett Co., Inc
Aug 3 15
InnerWorkings, Inc. has expanded its marketing execution partnership with Gannett Co., Inc. Under the new multi-year agreement, InnerWorkings will exclusively manage Gannett's direct response team and will provide a comprehensive solution for marketing execution from creative ideation and design through production. Gannett expanded its relationship based on InnerWorkings longstanding track record of improving direct response capabilities while managing Gannett's U.S. consumer marketing print operations. InnerWorkings creative services team of 30 design professionals will sit onsite at Gannett and collaborate with InnerWorkings current print management team to enhance accountability, shorten turnaround times, and optimize marketing efforts. InnerWorkings creative services team will offer end-to-end creative execution, including graphic design, creative ideation, versioning, copywriting, and pre-press support. Gannett will benefit from efficiencies in its marketing operations and InnerWorkings proven expertise as a direct marketer.
Gannett Co., Inc. Announces Executive Changes
Jul 29 15
Gannett Co., Inc. assigned certain of its members to serve on the Audit, Executive Compensation and Nominating and Public Responsibility Committees of the Board. Joining the Audit Committee, led by its chairman John E. Cody, will be Stephen W. Coll and Lila Ibrahim. Joining Chairman of the Board John Jeffry Louis on the Executive Compensation Committee will be Mr. Cody and Debra A. Sandler. Mr. Coll, Mr. Louis, Ms. Sandler and Chloe R. Sladden will join Tony A. Prophet as members of the Nominating and Public Responsibility Committee. Ms. Sandler will serve as chairwoman of this committee. In addition, the Board formed a Transformation Committee charged with assisting the Board in fulfilling its oversight responsibilities relating to the Company's strategic plan and initiatives in support of the strategic plan. Mr. Prophet was appointed chairman of the Transformation Committee, and is joined on it by Robert J. Dickey, the Company’s President and Chief Executive Officer, Lawrence S. Kramer, Ms. Ibrahim and Ms. Sladden.
Gannett Co., Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 28, 2015; Provides Earnings Guidance for the Second Half of 2015
Jul 29 15
Gannett Co., Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 28, 2015. For the quarter, the company reported total operating revenues of $727,072,000 against $796,522,000 a year ago. Operating income was $48,994,000 against $67,318,000 a year ago. Income before income taxes was $76,384,000 against $70,889,000 a year ago. Net income was $53,327,000 or $0.46 per share basic and diluted against $52,109,000 or $0.45 per share basic and diluted a year ago. Adjusted operating income (Non-GAAP) was $69,640,000 against $97,452,000 a year ago. Adjusted EBITDA was (Non-GAAP) was $97,026,000 against $125,330,000 a year ago. Net cash flow used in operating activities was $51,058,000. Capital expenditures were $13,959,000, primarily related to technology investments and real estate efficiency projects. The decline in revenues is primarily attributable to ongoing advertiser demand shifts, partially offset by positive revenue trends in the company’s digital products as well as $9.3 million of revenues from businesses acquired in the second quarter of 2015. The decline in adjusted EBITDA was primarily due to ongoing reductions in print advertising revenues and approximately $6 million of increased Cars.com affiliate agreement costs, partially offset by cost reductions and efficiency gains in operating expenses as well as increases in digital revenue.
For the six months, the company reported total operating revenues of $1,444,432,000 against $1,585,655,000 a year ago. Operating income was $78,805,000 against $116,123,000 a year ago. Income before income taxes was $111,044,000 against $124,060,000 a year ago. Net income was $86,574,000 or $0.75 per share basic and diluted against $93,288,000 or $0.81 per share basic and diluted a year ago. Adjusted operating income (Non-GAAP) was $112,765,000 against $159,266,000 a year ago. Adjusted EBITDA was (Non-GAAP) was $168,158,000 against $215,095,000 a year ago. Net cash flow from operating activities was $26,695,000. Capital expenditures were $20,617,000.
The company provided earnings guidance for the second half of 2015. The company expects revenue growth rates to modestly improve in the second half of 2015, aided by the acquisitions of the Texas newspaper partnership and Romanes. Depreciation and amortization should remain relatively constant at around $54 million for the second half of 2015. Effective tax rate is expected to be in the range of 28% to 32%. Capital expenditures for the second half to be between $50 million and $55 million, which includes approximately $10 million for one-time spin-related and acquisition expenditures. The company expects EBITDA margins to improve modestly as well in the second half of the year.
Gannett Co., Inc. Elects Stephen W. Coll to its Board of Directors; Declares Quarterly Dividend, Payable on October 1, 2015
Jul 28 15
Gannett Co., Inc. announced that Stephen W. Coll has been elected to its Board of Directors, effective immediately. Mr. Coll is the Dean of the Graduate Schoolof Journalism for Columbia University in New York and is also a contributor to The New Yorker magazine. Previously Mr. Coll served as President of New America Foundation.
Also the company announced that the Board of Directors declared a quarterly cash dividend of $0.16 per share of common stock, payable on October 1, 2015 to shareholders of record at the close of business on September 4, 2015.