|Bid||1.3100 x 4000|
|Ask||1.4000 x 900|
|Day's Range||1.2700 - 1.3500|
|52 Week Range||0.6300 - 11.3500|
|Beta (5Y Monthly)||1.45|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 03, 2020 - Aug 07, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Oct 31, 2019|
|1y Target Est||2.25|
ViacomCBS Inc is cutting up to 400 employees across CBS as part of its plan to save $750 million from its merger with CBS, a source familiar with the matter said on Thursday. Digital and local media companies including Atlantic Media, Vice Media, Gannett Co Inc and Tribune Publishing Co have slashed jobs since the start of the coronavirus pandemic due to drops in ad revenues adding to an declining industry which has seen employment drop by 23% between 2008 and 2019, according to the Pew Research Center. "We are restructuring various operations at CBS as part our ongoing integration with Viacom, and to adapt to changes in our business, including those related to COVID-19," a CBS spokesman said in a statement.
Gannett Co., Inc (NYSE: GCI) today launched "Rebuilding America," an unprecedented national examination of how America’s economy is rebooting after nearly three months as states reopen for business. This ambitious project involving USA TODAY and Gannett’s 260 daily local news sites will give a coast-to-coast view of the country’s "new economic normal," as told through the industries powering the national, regional and local economies. Stories will debut on Gannett-owned digital sites beginning today and appear in print editions on May 31 with a nationwide narrative of what consumers, companies and taxpayers can expect as the American economy begins to accelerate again.
Gannett Co., Inc. ("Gannett", the "Company") (NYSE: GCI) announced today that it will hold its 2020 Annual Meeting of Stockholders (the "Annual Meeting") virtually due to the ongoing public health impact of the COVID-19 pandemic and to support the health and safety of the Company’s stockholders, employees, and communities.
Atlantic Media, the owner of The Atlantic magazine, announced Thursday the publication is cutting nearly 20% of its staff as the coronavirus pandemic devastates ad sales and the live events business. The Atlantic, which is backed by entrepreneur Laurene Powell Jobs, is the latest media and news organization to suffer the brunt of the pandemic's economic impact following jobs cuts at Vice Media Group, The Economist Group and Quartz Media Inc last week. Local media has been especially hard hit as publishers such as Gannett Co Inc and Tribune Publishing Co slashed jobs in April to stay afloat, exacerbating a long-term trend.
Some 52 large-cap S&P 500 companies have cut or suspended their dividends this year. But between the mid-cap S&P 400 and small-cap S&P 600, there have been roughly 110 cuts and suspensions.
Even if it's not a huge purchase, we think it was good to see that Laurence Tarica, the Independent Director of...
Magazine publisher Conde Nast, which owns Vogue, GQ and The New Yorker, is laying off a broad group of nearly 100 employees based in the United States as the coronavirus pandemic has sharply reduced ad revenue, according to an internal memo distributed on Wednesday seen by Reuters. The cuts reflect industry-wide efforts to reduce costs by newspaper publishers like Gannett Co. Inc. and Tribune Publishing Co., which also slashed salaries and cut jobs as ad revenues plummeted during the spread of coronavirus. Lynch said in a memo that less than 100 of Conde Nast's approximate 2,700 employees in the United States would also be temporarily furloughed.
Ladies and gentlemen, thank you for standing by, and welcome to the Gannett First Quarter Earnings Conference Call. Ashley Higgins, please go ahead. Good morning, everyone, and thank you for joining our call today to discuss to Gannett's first quarter 20202 results.
The number of U.S. fatalities from the coronavirus that causes COVID-19 climbed above 73,000 on Thursday, as President Donald Trump’s administration said it is shelving recommendations from the Centers for Disease Control and Prevention on reopening safely because they were too cautious
Shares of Gannett Co (NYSE:GCI) rose 4.7% in pre-market trading after the company reported Q1 results.Quarterly Results Earnings per share fell 480.00% year over year to ($0.38), which missed the estimate of ($0.27).Revenue of $948,682,000 rose by 43.00% from the same period last year, which beat the estimate of $945,400,000.Guidance Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.Conference Call Details Date: May 07, 2020View more earnings on GCIWebcast URL: https://78449.choruscall.com/dataconf/productusers/gci/mediaframe/37522/indexr.htmlRecent Stock Performance 52-week high: $11.3052-week low: $0.63Price action over last quarter: down 74.76%Company Description Gannett Co Inc is a local newspaper company providing media and marketing solutions. The company's brands include USA TODAY NETWORK with the iconic USA TODAY and more than 100 local media brands, digital marketing services companies ReachLocal, WordStream and SweetIQ, and U.K. media company Newsquest.See more from Benzinga * 11 Communication Services Stocks Moving In Wednesday's Pre-Market Session * 8 Communication Services Stocks Moving In Tuesday's Pre-Market Session * 7 Communication Services Stocks Moving In Monday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Shares of USA Today parent Gannett Co. rallied 4.7% after the media company reported a first-quarter loss that widened and revenue that more than doubled, as a result of the New Media Investment Group Inc.'s acquisition of Gannett, which was completed in November. The company said it is suspending its dividend to preserve liquidity amid the economic disruption and uncertainties caused the COVID-19 health crisis. The net loss was $80.2 million, or 61 cents a share, after a loss of $9.1 million, or 15 cents a share, in the year-ago period. Revneue rose 144.8% to $948.7 million. There were not enough FactSet estimates to provide a consensus. On a pro forma basis, revenue would have declined 10.0%, with print advertising revenue down 21.2%, digital advertising and marketing services revenue rose 1.7% and circulation revenue fell 7.5%. "The impact on our business from the pandemic came fast and is significant," said Chief Executive Michael Reed. "We have also moved aggressively to manage through the current economic crisis by taking measures to preserve and increase liquidity and financial performance, including further cost reductions, limits on capital expenditures, and the suspension of our quarterly dividend." The stock has plunged 83.2% year to date through Wednesday, while the S&P 500 has lost 11.8%.
Gannett Co., Inc. ("Gannett", "we", "us", "our", or "the Company") (NYSE: GCI) today reported its financial results for the first quarter ended March 31, 2020. Prior to November 19, 2019, our corporate name was New Media Investment Group Inc. ("New Media" or "Legacy New Media"), and Gannett Co., Inc. ("Legacy Gannett") was a separate publicly traded company. On November 19, 2019, New Media acquired Legacy Gannett (the "Acquisition"). In connection with the Acquisition, Legacy Gannett became a wholly owned subsidiary of New Media, and New Media changed its name to Gannett Co., Inc.
Gannett Co., Inc. (NYSE:GCI) shareholders should be happy to see the share price up 29% in the last month. But spare a...
Today, the Louisville Courier Journal, part of Gannett Co., Inc. (NYSE: GCI), received the 2020 Pulitzer Prize for Breaking News Reporting for its coverage of the flurry of pardons and commutations given by Kentucky Gov. Matt Bevin during his final days in office.
Tegna Inc said on Wednesday that proxy advisory firm Glass Lewis had recommended that the U.S. regional TV station operator's shareholders vote for all 12 of its director nominees in the proxy contest against hedge fund Standard General LP. Standard General, Tegna's largest shareholder with a stake of neaerly 12%, is seeking to replace four of Tegna's directors with its own nominees, including founder Soohyung Kim, in a Tegna shareholder vote to be held on April 30. "Glass Lewis' recommendation for shareholders to support Tegna's highly qualified directors is a clear recognition of the strength and performance of our existing board and its excellent track record of value creation," Tegna chairman Howard Elias said in a statement.
Gannett Co., Inc. ("Gannett", the "Company") (NYSE: GCI) announced today that it will release its first quarter 2020 financial results on Thursday, May 7, 2020, prior to the opening of the New York Stock Exchange. Management will host a conference call on Thursday, May 7, 2020 at 8:30 A.M. Eastern Time. A copy of the earnings release will be posted to the Investor Relations section of Gannett’s website, www.gannett.com.
People Magazine owner Meredith Corp, will temporarily cut pay for 60% of its employees and paused its dividend as advertising revenue takes a hit during the coronavirus outbreak, the company announced on Monday. Meredith joins a number of large news media companies including Gannett Co Inc and McClatchy Co looking to slash costs through pay cuts, furloughs and layoffs as advertisers drastically cut spending. Meredith also said it would freeze hiring and significantly reduce freelancers.
A bipartisan group of U.S. lawmakers called on Sunday for expanding payroll assistance to struggling local newspapers and broadcast stations that have seen advertising revenue plummet during the coronavirus pandemic. Democratic Senators Maria Cantwell and Amy Klobuchar and Republicans John Kennedy and John Boozman urged Senate leaders to revise the rules to make thousands of local newspapers, TV and radio stations eligible for assistance under the Paycheck Protection Program.
Vox Media, the owner of New York magazine, on Friday announced it is furloughing 9% of its workers in an effort to cut spending as the company's revenues face the impact of the COVID-19 pandemic. The action will affect about 100 workers from May through July. About 1% of its workers will work under reduced hours and the company will have tiered pay cuts.
The Virginia governor is asking for funding on a variety of fronts while Montgomery County is allocating some of its own money for personal protective equipment.
Ariel Investments LLC, the 11th-largest shareholder of U.S. regional TV station operator Tegna Inc , said on Monday it was backing the company's board in its proxy contest with hedge fund Standard General LP. Ariel, which was founded by John W. Rogers Jr. in 1983, owns more than 5 million shares in Tegna, equivalent to more than a 2.3% stake, according to Miller. Standard General, Tegna's largest shareholder with an approximately 12% stake, is asking the company's shareholders to elect its four nominees, including founding partner Soohyung Kim, to Tegna's 12-member board in a vote on April 30.
Scores of workers likely running into the millions have either been furloughed in the past few weeks or soon will be because of an unprecedented closure of the U.S. economy to fight the deadly coronavirus scourge. What is a furlough, how does it affect employees and can they collect jobless benefits?
Nearly 100 members of the U.S. House signed a letter Thursday urging that D.C. receive the full funding allocated to states in the $2.2 trillion economic stimulus legislation related to the coronavirus pandemic. The letter from Rep. Jamie Raskin, D-Md., said the decision to group the District with U.S. territories instead of states in the Senate-led Coronavirus Aid, Relief and Economic Security Act was a “scandalous departure from practice that dramatically increases health risks” for those who live and work in the District, including members of Congress, their staffs and families. “There is no principled reason to abandon the customary practice of grouping the District with the states when it comes to the state aid grants in the CARES Act, and there are urgently compelling public health reasons to correct this affront to the local community,” says the letter, which was sent to House Speaker Nancy Pelosi, D-Calif., and House Minority Leader Kevin McCarthy, R-Calif. The legislation splits up $3 billion in emergency funding between D.C. and five U.S. territories based on population, allocating about $500 million to the District.
From Rupert Murdoch's News UK to McClatchy's chain of local newspapers across the United States, news publishers are attracting record numbers of readers as people in lockdown seek information about the coronavirus pandemic. Total local advertising in the United States could decline by up to 30% this year, or $38 billion, according to media research firm Borrell Associates. Publishers, advertising agencies and tech firms that help place ads have been trying to persuade brands to rethink, arguing that by eschewing coronavirus coverage, advertisers are losing access to engaged readers.