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Gannett Broadcasting

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Gannett Broadcasting, 7950 Jones Branch Drive, McLean, VA 22107, United States, Phone: 703-854-6760, Fax: 703-854-2005 http://www.gannett.com/

Gannett Broadcasting is a subsidiary of Gannett Company Inc., an international media and marketing solutions company. Gannett Co. Inc. is involved in digital, mobile, broadcast and print media. Gannett engages over 100 million every month through its network. Gannett Broadcasting owns and operates several local broadcasting stations. The company is based out of McLean, Virginia. Gannett Co. Inc.  runs 23 television stations in 17 United States markets. Gannett publishes 82 daily U.S. newspapers and more than 600 magazines. One of Gannett Co.’s British subsidiaries, Newsquest, operates 17 daily paid-for titles, and over 200 weekly print publications. [1]

History

Frank Gannett founded Gannett Co. Inc. in 1923 in Rochester, NY. Gannett Co. Inc. was an expansion of a newspaper business he had previously started in Elmira, New York in 1906. Gannett expanded his company by purchasing small independent newspapers and developing them into one large chain. By 1979 the chain he created had reached 79 newspapers. Gannett’s oldest newspaper in circulation is the Star-Gazette (Elmira, NY). The company moved to its current headquarters in 2001.

On Mar 7, 2011 Gannett introduced a new logo for the company, which replaced a stylized “G” logo that had been in use since the 1970s. The new logo features the company’s full name along with the slogan “It’s all within reach.”[2]

Financial Information

 

 

 

 

 

Gannett Co. Inc. stock (GCI) has seen a 1.39 percent drop over the past year. It has a market value of $3,319,655,490. The company has 236,949,00 outstanding shares. The estimated annual EPS (Dec-12) is 2.18. The quarterly EPS (Jun-12) is 0.53. The 52wk Range for GCI is 8.28-16.26. [3]

 

Assets

Print Media

  • USA Today of McLean, VA
  • The Arizona Republic of Phoenix, AZ
  • Detroit Free Press
  • The Indianapolis Star
  • The Courier-Journal
  • The Cincinnati Enquirer
  • The Tennessean
  • Democrat and Chronicle
  • Asbury Park Press
  • The Des Moines Register
  • The News Journal of Wilmington, DE
  • The Journal News of White Plains, NY

Broadcast Media

  • WBIR-TV (Knoxville, Tennessee)
  • WXIA-TV and WATL (Atlanta, GA)
  • WUSA (Washington, DC)
  • KPNX (Phoenix, AZ)
  • WTSP (Tampa, FL)
  • KARE (Minneapolis, MN
  • KUSA-TV and KTVD (Denver, CO)
  • WKYC-TV (Cleveland, OH)
  • KXTV (Sacramento, CA)
  • KSDK (St. Louis, MO)
  • WZZM-TV (Grand Rapids, MI)
  • WFMY-TV (Greensboro, NC)
  • WJXX and WTLV (Jacksonville, FL)
  • WGRZ-TV (Buffalo, NY)
  • KTHV-TV (Little Rock, AK)
  • WLTX (Columbia, SC)
  • WMAZ-TV (Macon, GA)
  • WCSH-TV (Portland, ME)
  • WLBZ-TV (Bangor, ME)

Digital Assets

Directors

The key executives for the company are David Lougee, President; Craig A. Dubow, Chairman of Gannett Co.; Dodie Cantrell-Bickley, President of Jacksonville Stations and General Manager of Jacksonville Stations; Ken Tonning, President of WTSP-TV and General Manager of WTSP-TV; Steve Carter, President of WCSH-TV and General Manager of WCSH-TV. [4]

Recent News

On February 22, 2012, Gannett issued a press release stating that an investor meeting was held which presented a growth strategy and cash flow-funded capital program. The company expects to return over $1.3 billion to shareholders by the year 2015.  The President and Chief Executive Officer Gracia Martore stated,
“Gannett is once again playing offense, poised for growth and value creation, our Board and management have designed a strategy that leverages our deep-rooted consumer and marketer relationships in 100-plus local communities, or what we call our hometown advantage, with our mainstream brand recognition and our strong balance sheet and cash flow. Our differentiators are critical to our success, and we are confident this new strategy will return Gannett to a path of profitable and sustainable revenue growth, and deliver value for all of our stakeholders.”[5]

Gannett Broadcasting announced on April 17, 2012 that 15 of its local stations won 31 regional 2012 Edward R. Murrow Awards. These awards recognize outstanding achievements in electronic journalism. The Edward R. Murrow Awards are sponsored by the Radio Television Digital News Association. The winners of the awards were: KARE-TV in Minneapolis-St. Paul, MN (eight awards); WGRZ-TV in Buffalo, NY (two awards); KTHV-TV in Little Rock, AR (one award); KUSA-TV in Denver, CO (five awards); WBIR-TV in Knoxville, TN (three awards); WXIA-TV in Atlanta, GA (two awards); KSDK-TV in St. Louis, MO (two awards); WUSA-TV in Washington DC (one award); WTSP-TV in Tampa-St. Petersburg, FL (one award); KPNX-TV in Phoenix, AZ (one award); WKYC-TV in Cleveland, OH (one award); WZZM-TV in Grand Rapids-Kalamazoo-Battle Creek, MI (one award); WTLV/WJXX in Jacksonville, FL (one award); WCSH-TV in Portland, ME (one award); WMAZ-TV in Macon, GA (one award).[6]

On April 23, 2012, Jeremy Gaines was appointed to lead corporate communications for Gannett Co. Gaines will play a key role in helping Gannett implement its strategic growth plan. As Vice President of Communcations, Gaines will  be instrumental in explaining Gannett’s future and how the company plans to stay successful. Gaines’ responsibilities will include leading internal and external communications for the entire Gannett Co. and he will serve as the communications advisor to the senior management team. The Chief Marketing Office, Maryam Banikarim stated, “Gannett is staking out a leadership position in a fast-transforming industry, and we will benefit enormously from having Jeremy guide our communication efforts. He is a strategic leader and his deep experience in the industry, strong relationships with the media and ability to tell a story will be a major asset as we grow and transform Gannett. We are thrilled to have Jeremy lead the team.” [7]

Gannett Co. Inc. issued a press release on May 1, 2012, stating that shareholders had re-elected Chairman, Majorie Magner; President and CEO CEO, Gracia C. Martore; John E. Cody; Howard D. Elias; Arthur H. Harper; John Jeffry Louis; Scott K. McCune; Duncan M. McFarland; Susan Ness; and Neal Shapiro to the Board of Directors. The directors will serve one-year terms, which will end at Gannett’s annual meeting in 2013. The Board of Directors also declared a regular quarterly dividend of 20 cents per share. CEO Gacia Martore issued a statement about the financial amendments stating, “We have an ongoing commitment to return increasing amounts of capital to our shareholders and this dividend reaffirms the Board of Directors’ and management’s confidence in our capital allocation strategy, while also reflecting our current strength and strong belief in Gannett’s future prospects.” [8]