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.