|Bid||7.47 x 60000|
|Ask||7.49 x 60000|
|Day's Range||7.28 - 7.28|
|52 Week Range||6.67 - 10.29|
|Beta (3Y Monthly)||0.67|
|PE Ratio (TTM)||234.71|
|Forward Dividend & Yield||0.57 (8.50%)|
|1y Target Est||N/A|
rose 1.3% to $7.73 on Thursday following a report that the media giant held merger talks with Gatehouse Media. The deal with Gatehouse would unite the two largest newspaper chains in the U.S. Neither company immediately responded to requests for comment. Gannett operates more than 100 newspaper operations in 34 states and 160 online news brands in the U.K. GateHouse publishes 156 daily newspapers, 464 community publications, and operates in more than 615 local markets in 39 states.
USA Today owner Gannett Co Inc has recently discussed the possibility of a merger with Gatehouse Media Inc, the Wall Street Journal reported https://www.wsj.com/articles/gannett-holds-merger-talks-with-gatehouse-media-11559228913 ...
Gannett also has discussed deals with Tribune Publishing Co. and McClatchy Co., the Wall Street Journal said, citing unidentified people familiar with the matter. Gannett and Gatehouse didn’t immediately respond to requests for comment from Bloomberg News.
Gannett, the owner of USA Today and other titles, said on Thursday that all eight of its nominees were elected to the board, beating out a hostile slate from MNG Enterprises Inc., the newspaper publisher that’s better known as Digital First Media and is backed by hedge fund Alden Global. The financing for that offer was never firm, despite MNG’s comical attempts to suggest otherwise. MNG got Oaktree Capital Management to write a letter in a similar vein– with the notable difference being that Oaktree seemingly was making no commitment to help with raising funds for a Gannett buyout and was merely expressing an opinion.
Shareholders of USA Today owner Gannett have rebuffed an attempt to overthrow its board. Gannett, which also owns dozens of other newspapers, says its slate of eight directors had beaten opposing candidates nominated by a media group vying to revive its previously rejected takeover bid for Gannett . The results were based on a preliminary count of a vote held Thursday at Gannett's annual meeting.
USA Today owner Gannett Co Inc said on Thursday all its eight director nominees were elected to its board, based on a preliminary vote count, beating candidates put up by its shareholder MNG Enterprises, better known as Digital First Media. The newspaper chain had launched a proxy fight against Gannett in February by nominating six directors, days after Gannett rejected MNG's $1.36 billion buyout offer. MNG, which is controlled by secretive hedge fund Alden Global Capital LLC, later cut its slate to three nominees.
Gannett is facing a hostile takeover. The offer is a significant premium to the current stock price but could upend Gannett's legacy and culture.
As of Monday, several stocks were offering to shareholders a forward dividend yield that more than doubled the S&P 500 Index's yield of 1.87%. The first company is Salem Media Group Inc. (SALM), with a closing share price of $2.14 and a market capitalization of $55.91 million on Monday. The stock has a forward dividend yield of 12.26% versus an industry median of 2.48%.
On April 25, MNG Enterprises reported in a filing that it held a stake of 8,506,799 shares in the news media publisher, equal to 7.5% of the tradable stock. MNG also revealed in the filing that it had halved the number of nominees for election to Gannett’s board at the upcoming annual shareholders meeting. Within this latest filing, ADW also listed a number of actions it has taken to spur the home retailer into exploring strategic alternatives for the firm.
Newspaper chain MNG Enterprises, controlled by hedge fund Alden Global Capital LLC, made a $1.36 billion offer to acquire Gannett earlier this year, but has been rebuffed by the publisher of USA Today and scores of other newspapers. ISS said that support for MNG Enterprises nominee Steven Rossi, former chief executive of MNG, is warranted, but recommended Gannett shareholders withhold votes for Heath Freeman and Dana Needleman.
On a per-share basis, the McLean, Virginia-based company said it had a loss of 10 cents. Earnings, adjusted for one-time gains and costs, came to 10 cents per share. The newspaper publisher posted revenue ...
Yes, it’s Alden Global Capital LLC, whose newspaper company, MNG Enterprises Inc., has mastered the art of maintaining profitability by cutting staff, and then cutting staff again as readers stop buying the diminished product. The Denver Post business model, you might call it. In an effort to perpetuate this model, Alden Global and its president, 39-year-old Heath Freeman, made a $1.36 billion bid for Gannett Co., the largest publicly traded newspaper chain in the country, a few months ago.
Co., with a debt specialist indicating Digital First could raise the funds needed to pay for the $1.4 billion takeover. Oaktree Capital Management LP, a credit-investment firm with $120 billion of assets as of December, told Digital First it is “highly confident” in Digital First’s ability to attain a debt financing package of at least $1.725 billion in connection with the offer for the USA Today publisher, according to people familiar with the matter. Digital First, officially known as MNG Enterprises Inc., offered to buy Gannett in January for $12 a share.
The D.C. museum devoted to a free press will sell its building to Johns Hopkins after years of financial struggle. But the Newseum could still have a bright future.
shares fell nearly 4% on Wednesday morning after the company missed fourth quarter earnings and revenues estimates as newspapers struggle to stay afloat. The largest newspaper publisher in the U.S. and parent company of USA Today and the Detroit Free Press is the subject of a hostile takeover by MNG Enterprises Inc. The media giant reported a fourth quarter net loss of $14.2 million, or 13 cents a share.
The McLean, Virginia-based company said it had a loss of 13 cents per share. Earnings, adjusted for one-time gains and costs, were 44 cents per share. The newspaper publisher posted revenue of $751.4 million ...
On Wednesday, Feb. 20, Gannett (NYSE: GCI ) will release its latest earnings report. Benzinga's report can help you figure out the ins and outs of the earnings release. Earnings and Revenue Sell-side analysts ...