Gannett Co., Inc. (GCI)
After hours:
- Deadline
Gannett, America’s Largest Newspaper Chain, Lays Off Journalists After Dismal Earnings Report – Updated
UPDATED list of papers impacted, company statement added: In a late-Friday move Gannett, the nation’s largest newspaper chain, executed layoffs at outlets across the country. While no official tally was available, journalists at the Athens (Georgia) Banner-Herald, (South Texas) Caller-Times, Columbia (Missouri) Daily Tribune, Ventura County Star, St. Cloud (Minnesota) Times, Monroe (Louisiana) News-Star, Billerica […]
- Barrons.com
Gannett Stock Dropped on Weak Earnings. Then the CEO Bought $1.2 Million Worth.
Shares of USA Today publisher Gannett tanked earlier this month after the newspaper chain reported disappointing second-quarter results. CEO Michael Reed bought the dip this past week. Gannett (ticker: GCI), which also owns hundreds of local newspapers in the U.S., said on Aug. 4 that its second-quarter revenue declined 6.9% from 2021.
- American City Business Journals
Media chain Gannett blames inflation, labor shortage for predicted 2022 loss
The owner of the Cape Cod Times, The Patriot Ledger and the Worcester Telegram and Gazette, said it expects to lose up to $70 million this year due to inflation, distribution labor shortages and “price sensitive consumers.”
