Maybe you have real world experience in media. Warren Buffett delivered newspapers as a kid, but you would probably argue that doesn't count. That would put him with me not only on lacking real world media experience, but also, according to you, by being wrong about Gannett.
Value investing, like any school of investing, has its hazards. It's a matter of understanding value, and how price and value are seperate, and how sometimes they can be incredibly different. Sometimes an awful lot of people are wrong about a company and even an entire industry. Spot that kind of thing, and pounce on it, and you can do awfully well.