Posted in Politics

Gannett Buzz

   April 12, 2009

We know about the Pensacola News Journal efforts to continue downsize and increase profit margins by outsourcing its newspaper printing. Here is the other Gannett (owner of the PNJ) buzz:

Yahoo Finance reports Gannett shares were up 39 percent Thursday, April 9 after a regulatory filing showed fund manager Ariel Investments LLC more than doubled its stake in the newspaper company in the last quarter. Shares rose $1.06 to close at $3.75. Gannett shares are still sharply down from a 52-week high of $31.14, reached in May of last year. Read more.

Wall Street Journal’s Market Watch reports Analysts polled by FactSet Research expect Gannett to post next Thursday a per-share profit of 28 cents on revenue of $1.47 billion. For the same period in 2008, Gannett said it earned 84 cents a share on revenue of $1.68 billion. Read more.

Meanwhile Gannett is trying to sell its Tucson, AZ paper. The 139-year-old Tucson Citizen, Arizona’s oldest daily, has been publishing on a day-to-day schedule since Gannett threatened to close the paper by March 21 if a viable buyer didn’t emerge. So far two buyers have expressed interest. The most recent by Santa Monica Media was rejected.
Read more and more.

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