|Bid||7.90 x 3200|
|Ask||7.91 x 3000|
|Day's Range||7.78 - 8.09|
|52 Week Range||7.78 - 11.99|
|Beta (3Y Monthly)||1.87|
|PE Ratio (TTM)||253.23|
|Earnings Date||Aug 7, 2019 - Aug 12, 2019|
|Forward Dividend & Yield||0.64 (6.86%)|
|1y Target Est||11.67|
Gannett Co Inc NYSE:GCIView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is high * Economic output in this company's sector is expanding Bearish sentimentShort interest | NegativeShort interest is high for GCI with between 15 and 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting GCI. However, the last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $2.60 billion over the last one-month into ETFs that hold GCI are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | PositiveAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Services sector is rising. The rate of growth is strong relative to the trend shown over the past year. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. GCI credit default swap spreads are near the lowest level of the last three years and indicate the market's continued positive perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
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.
McLean-based Gannett Inc. (NYSE: GCI) appears to have held off a hedge fund-led hostile takeover bid. A preliminary vote tally following the company’s 2019 shareholder meeting shows all eight Gannett director nominees were elected to the Gannett board. Activist investor MNG Enterprises Inc., also known as Digital First Media, had sought to over Gannett’s board with directors of its own.
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.
Had MediaNews Group been successful, it would have owned virtually all of the Philadelphia region's daily suburban newspapers.
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 Co., Inc. (GCI) (“Gannett” or “company”) today announced that, based on the preliminary vote count provided by its proxy solicitor following the company’s 2019 annual meeting of shareholders, shareholders have elected all eight of Gannett’s highly experienced and independent director nominees to the Gannett board – John Jeffry Louis, John E. Cody, Stephen W. Coll, Donald E. Felsinger, Lila Ibrahim, Lawrence S. Kramer, Debra A. Sandler and Chloe R. Sladden. We are pleased with the preliminary outcome of the vote, and the Gannett board and management team thank our shareholders for their input, participation and support throughout the proxy contest.
MNG Enterprises, Inc. (“MNG”), owner and operator of one of the largest newspaper businesses in the U.S. and the largest active shareholder in Gannett Co., Inc. (GCI) (“Gannett” or the “Company”), today issued the following statement based on its analysis of the preliminary voting results of Gannett’s 2019 Annual Meeting. “This is a win for an entrenched Gannett Board that has been unwilling to address the current realities of the newspaper business, and sadly a loss for Gannett and its shareholders. “Gannett’s newspapers are critical local resources, and we hope that Gannett’s incumbent Board and Management shift course to embrace a modern approach to local news that will save newspapers and serve communities.
Gannett, the publisher of USA Today, declared victory in fending off its rival, Digital First Media, in a fight over the company’s board amidst a hostile takeover bid. Gannett, which owns more than 100 daily newspapers, said the preliminary results of a shareholder vote at its annual meeting on Thursday showed that the three director candidates nominated by Digital First were rejected in favour of the company’s slate, allowing Gannett to maintain control of its board. Digital First, also known as MNG Enterprises and backed by the hedge fund Alden Global, launched an unsolicited bid for Gannett earlier this year and has been pushing for the company to launch a review of its operations in order to cut costs.
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.
MNG Enterprises, Inc. (“MNG”), owner and operator of one of the largest newspaper businesses in the U.S. and the largest active shareholder in Gannett Co., Inc. (GCI) (“Gannett” or the “Company”), with an approximate 7.4% ownership interest, today sent an open letter to its fellow Gannett Shareholders in advance of Gannett’s upcoming Annual Meeting this Thursday, May 16th, urging them to vote on the BLUE Proxy card for ALL THREE of MNG’s highly qualified director nominees: Heath Freeman, Dana Needleman and Steven Rossi.
Gannett Co., Inc. (GCI) (“Gannett” or “company”) today issued an open letter to shareholders urging them to vote TODAY “FOR ALL” of the company’s eight independent director nominees in advance of the upcoming 2019 Annual Meeting of Shareholders scheduled to be held on May 16, 2019. Gannett’s Annual Meeting on May 16, 2019 is fast approaching, and it is important that all shareholders vote as soon as possible. Your board of directors urges you to vote “FOR ALL” of the company’s eight highly experienced, actively engaged, independent director nominees by Internet or by phone using the WHITE proxy card.
MNG Enterprises, Inc. (“MNG”), owner and operator of one of the largest newspaper businesses in the U.S. and the largest active shareholder in Gannett Co., Inc. (GCI) (“Gannett” or the “Company”), with an approximate 7.4% ownership interest, has mailed a letter to its fellow Gannett shareholders, urging them to vote on the BLUE Proxy card for MNG’s three highly qualified director nominees.
The New York Times Company (NYT) projects total subscription revenue in the second quarter of 2019 to increase in the low to mid-single digits. Subscription revenue grew 3.9% during the first quarter.
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%.
Gannett Co., Inc. (GCI) (“Gannett” or “company”) today announced that leading independent proxy advisory firms Glass Lewis & Co. (“Glass Lewis”) and Egan-Jones Proxy Services (“Egan-Jones”) have recommended that Gannett shareholders vote “FOR ALL” of the company’s eight highly experienced and independent director nominees – John Jeffry Louis, John E. Cody, Stephen W. Coll, Donald E. Felsinger, Lila Ibrahim, Lawrence S. Kramer, Debra A. Sandler and Chloe R. Sladden – on the WHITE proxy card ahead of the company’s 2019 annual meeting of shareholders to be held on May 16, 2019.
Chief Operating Office Barbara Wall has been appointed by the board of directors as principal executive officer.
Gannett Co., Inc. announced today that the Board of Directors declared a regular quarterly cash dividend of $0.16 per share of common stock, payable on June 24, 2019 to shareholders of record at the close of business on June 10, 2019.
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.
MNG Enterprises, Inc. (“MNG”), owner and operator of one of the largest newspaper businesses in the U.S. and the largest active shareholder in Gannett Co., Inc. (GCI) (“Gannett” or the “Company”), with an approximate 7.4% ownership interest, today urged Gannett shareholders to hold the Gannett Board of Directors (the “Board”) accountable for the significant destruction of value it has overseen by replacing three incumbent directors with MNG’s nominees, who offer fresh perspective and are committed to acting as a catalyst for value maximization.
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