NEWM - New Media Investment Group Inc.

NYSE - NYSE Delayed Price. Currency in USD
9.36
+0.16 (+1.74%)
At close: 4:04PM EDT
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Previous Close9.20
Open9.25
Bid9.43 x 900
Ask9.35 x 2900
Day's Range9.20 - 9.48
52 Week Range7.08 - 16.25
Volume3,464,909
Avg. Volume1,731,904
Market Cap600.022M
Beta (3Y Monthly)1.17
PE Ratio (TTM)720.00
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.52 (16.52%)
Ex-Dividend Date2019-08-19
1y Target EstN/A
Trade prices are not sourced from all markets
  • Is NY Times' (NYT) Dismal Run on Bourses Likely to Continue?
    Zacks

    Is NY Times' (NYT) Dismal Run on Bourses Likely to Continue?

    The New York Times Company (NYT) expects digital advertising revenue to fall in the high-single digits during the third quarter.

  • GuruFocus.com

    Weekly CEO Buys Highlight

    Insiders invest in PVH, Coty, New Media Investment Group, Elanco Animal Health and Cott Continue reading...

  • GuruFocus.com

    New Media Investment Group Inc (NEWM) CEO Michael Reed Bought $2.2 million of Shares

    CEO of New Media Investment Group Inc (30-Year Financial, Insider Trades) Michael Reed (insider trades) bought 250,000 shares of NEWM on 08/30/2019 at an average price of $8.78 a share. Continue reading...

  • GateHouse Media pays up to $425K over misclassification of newspaper carriers
    American City Business Journals

    GateHouse Media pays up to $425K over misclassification of newspaper carriers

    After eight years of litigation, GateHouse Media will pay up to $425,000 to settle a lawsuit with its newspaper carriers, who said they were misclassified as independent contractors.

  • Does New Media Investment Group Inc. (NYSE:NEWM) Have A Volatile Share Price?
    Simply Wall St.

    Does New Media Investment Group Inc. (NYSE:NEWM) Have A Volatile Share Price?

    Anyone researching New Media Investment Group Inc. (NYSE:NEWM) might want to consider the historical volatility of the...

  • Worcester mayor bashes GateHouse after longtime columnist cut
    American City Business Journals

    Worcester mayor bashes GateHouse after longtime columnist cut

    After 26 years at the Worcester Telegram & Gazette, columnist Clive McFarlane was laid off this week by parent company GateHouse Media, prompting Mayor Joseph Petty to declare, "There is no more real newspaper in the city of Worcester.”

  • Thomson Reuters StreetEvents

    Edited Transcript of NEWM earnings conference call or presentation 5-Aug-19 8:15pm GMT

    Q2 2019 New Media Investment Group Inc Earnings and Acquisition of Gannett Co Conference Call

  • Here’s how GateHouse stock woes could sink the Gannett merger
    American City Business Journals

    Here’s how GateHouse stock woes could sink the Gannett merger

    The merger of the two largest newspaper chains in the U.S. could be rejected by shareholders unless GateHouse Media's parent, New Media Investments, can manage to significantly raise its stock price in coming months.

  • New Media Investment Shares Jumped 23% Thursday as Deal Faces Heavy Scrutiny
    Motley Fool

    New Media Investment Shares Jumped 23% Thursday as Deal Faces Heavy Scrutiny

    New Media's merger with Gannett was so poorly received that the possibility of its falling through could be boosting the stock.

  • Sale of Journal Sentinel owner to New Media slammed on multiple fronts
    American City Business Journals

    Sale of Journal Sentinel owner to New Media slammed on multiple fronts

    The initial reviews are negative on the planned sale of Milwaukee Journal Sentinel owner Gannett Co. Inc. to New Media Investment Group — as are the companies’ stock prices — with the New York Post reporting the deal “could be derailed.”

  • Leon Cooperman Keeps Buying New Media Investment as Stock Plunges
    GuruFocus.com

    Leon Cooperman Keeps Buying New Media Investment as Stock Plunges

    The value investor increased his position as the company announced it would acquire news giant Gannett Continue reading...

  • MarketWatch

    USA Today headquarters evacuated after mistaken report of person with weapon

    The headquarters of USA Today were evacuated Wednesday after what authorities said turned out to be a mistaken report of a person with a weapon, the newspaper reported. USA Today said police are continuing to investigate, but there has been no evidence of shooting and police have not located anyone with a weapon. USA Today's parent company Gannett Co. Inc. and New Media Investment Group Inc. said Monday they plan to merge.

  • New Media Investment Group (NEWM) Q2 2019 Earnings Call Transcript
    Motley Fool

    New Media Investment Group (NEWM) Q2 2019 Earnings Call Transcript

    NEWM earnings call for the period ending June 30, 2019.

  • Why New Media Investment Group Plunged Today
    Motley Fool

    Why New Media Investment Group Plunged Today

    The newspaper giant is acquiring its rival -- and investors aren't happy.

  • Barrons.com

    New Media Stock Plunges on Planned Merger With Gannett

    Terms call for each Gannett share (ticker: GCI) to be exchanged for $6.25 a share in cash and 0.5427 of a New Media share (NEWM). After the deal closes, current Gannett shareholders would own 49.5% of the combined company with New Media shareholders owning the other 50.5%. The combined company will take the Gannett name.

  • Bloomberg

    For USA Today, Pain Awaits No Matter the Buyer

    (Bloomberg Opinion) -- Better the devil with money than the devil without it.USA Today publisher Gannett Co. announced late Monday that it would sell itself to New Media Investment Group Inc. in a cash-and-stock deal valued at $1.9 billion including debt, or about $12.06 a share based on last week’s closing prices. The agreement combines the two largest newspaper publishers in America and comes just three months after Gannett successfully rebuffed a proxy fight launched by an Alden Global-backed newspaper group in a bid to force the board to consider its $12 a share takeover offer.In that fight, Gannett lambasted Alden’s penchant for aggressive cost cutting and seemingly endless journalist firings, saying these practices undercut “papers’ ability to produce quality journalism and retain subscribers.” But New Media is hardly a neophyte when it comes to cost cutting. At the end of the day, it appears it was really just about the money. New Media has clinched a term loan from Apollo Global Management to fund the takeover, whereas Alden’s bid lacked any firm financing commitments. Put another way, New Media was able to afford a Gannett takeover; Alden wasn’t.The $300 million in annual savings New Media is targeting from the merger of its GateHouse Media operations with Gannett is a huge number and implies a dizzying level of cost cuts. That’s nearly 7% of the companies’ combined sales over the past year. By comparison, when Gannett pursued Tribune Publishing Co. in 2016, the only public synergy number the company gave was $50 million. Gannett indicated at various points that the ultimate savings could be higher, but there’s no reason to think that in that contentious battle, the company was withholding the fact that synergies could in fact be six times as high.For the sake of argument, let’s say Gannett was really eyeing something more like $100 million in cost savings from a Tribune deal. That would have been a little over 2% of Tribune and Gannett’s combined sales in 2016. Another key difference is that at that point in time, Tribune was a relatively fatty newspaper company and needed some operational improvement. Gannett and GateHouse’s cost cuts will come on top of years’ worth of trimming.The companies say the savings will come from the increased scale of the organization, the sharing of best practices, leveraging existing infrastructure, facility rationalization and other “judicious” cost reductions, which I’m going to assume is a euphemism for job cuts. Against this backdrop of heavy cost cutting and the need for consolidation to survive, New Media does appear to be cutting its dividend, but the company expects to raise the payout over time as it repays debt.Speaking of debt, you know who doesn’t have very much of it anymore? Gannett’s former would-be partner, Tribune. The company had a net cash balance at the end of 2018 and just $48 million of net debt as of March, according to data compiled by Bloomberg. Recall that Tribune had reportedly attempted to rekindle merger talks with Gannett in the weeks before Alden-backed MNG Enterprises Inc. launched its pursuit of the company. Gannett staunchly defended its digital initiatives amid criticism from Alden about a lack of return. While it claims the New Media deal will help it accelerate its investments on that front, it remains unclear to me why it wouldn’t be preferable to tap Tribune’s relatively pristine balance sheet. A deal with Tribune is hardly without its own share of risks, though, in a time of declining circulation and advertising dollars.At the end of the day, I’m not sure there are any great options left for newspaper companies. New Media shares fell 7.6% on the news of the Gannett merger Monday and were down as much as an additional 17% on Tuesday. It's a sign that investors have their doubts about the companies’ ability to achieve the deal’s purported benefits. The decline also puts the offer price well below the $12 Alden Global had offered (albeit without ever giving a firm indication of the financing to back that up). This deal may be all about the money, but it says a lot that Gannett, the largest newspaper publisher by circulation, now views itself as a seller in this environment.To contact the author of this story: Brooke Sutherland at bsutherland7@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Brooke Sutherland is a Bloomberg Opinion columnist covering deals and industrial companies. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Executive turnover, high-interest debt to be part of Gannett-GateHouse merger
    American City Business Journals

    Executive turnover, high-interest debt to be part of Gannett-GateHouse merger

    When the details behind the long-rumored merger of the nation’s two largest newspaper chains were finally announced Monday, it became clear that private equity will once again play a big role.

  • TheStreet.com

    Dow Rebound?, Disney Reports, Barneys Files Chapter 11 - 5 Things You Must Know

    U.S. stock futures rise Tuesday, following Wall Street's worst day of the year, as China attempts to ease trade tensions with the U.S., Walt Disney to report earnings Tuesday; Barneys New York files for bankruptcy protection.

  • Benzinga

    Newspaper Chains Gannett, GateHouse To Merge, Project $275-$300M In Annual Synergies

    New Media Investment Group Inc. (NYSE: NEWM) and USA Today parent company Gannett Co., Inc. (NYSE: CGI) announced a definitive merger agreement Monday. Per the agreement, Gannett shareholders will receive $6.25 in cash and 0.5427 of a New Media share for each Gannett share they hold.

  • Barrons.com

    New Media to Buy Gannett in Merger of Newspaper Giants

    (GCI) publisher of USA Today and many other newspapers, agreed to be acquired by (NEWM) the parent of the newspaper holding company GateHouse Media, for $12.06 a share in cash and stock, or just under $1.4 billion. Each Gannett share (ticker: GCI) will be exchanged for $6.25 in cash plus 0.5427 of a New Media share (NEWM). Current Gannett holders will own 49.5% of the combined company and New Media shareholders will own 50.5%.

  • $1.4B merger of two largest U.S. newspaper chains will have significant local impact
    American City Business Journals

    $1.4B merger of two largest U.S. newspaper chains will have significant local impact

    New Media Investment Group said it plans to acquire rival Gannett Co., with the combined company owning more than 260 daily papers, including five in the Philadelphia region.

  • Reuters

    UPDATE 2-New Media to buy Gannett for $1.4 bln, creating biggest U.S. newspaper publisher

    Local media company New Media Investment Group said on Monday it will buy USA Today-owner Gannett Co in a $1.4 billion deal, creating the biggest newspaper owner in the United States as publishers struggle with readers shifting to online sources for news. New Media and Gannett are the largest U.S. newspaper owners by circulation, according to Statista. About 25% of the combined company's revenue will come from digital, New Media Chief Executive Officer Michael Reed said on a conference call.