Gannett Company

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Gannett Company, Inc.
TypePublic
Traded asNYSEGCI
S&P 500 Component
IndustryMedia
Founded1906
Founder(s)Frank Gannett
HeadquartersTysons Corner, Virginia, U.S.
(McLean mailing address)
Key peopleGracia Martore
(Chairman and CEO)
ProductsNewspapers
Television
Internet media
RevenueDecrease US$ 5.439 billion (2010)[1]
Operating incomeIncrease US$ 999.7 million (2010)[1]
Net incomeIncrease US$ 588.2 million (2010)[1]
Total assetsDecrease US$ 6.817 billion (2010)[1]
Total equityIncrease US$ 2.334 billion (2010)[1]
Employees32,600 (December 2010)
WebsiteGannett.com
 
  (Redirected from Gannett News Service)
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Gannett Company, Inc.
TypePublic
Traded asNYSEGCI
S&P 500 Component
IndustryMedia
Founded1906
Founder(s)Frank Gannett
HeadquartersTysons Corner, Virginia, U.S.
(McLean mailing address)
Key peopleGracia Martore
(Chairman and CEO)
ProductsNewspapers
Television
Internet media
RevenueDecrease US$ 5.439 billion (2010)[1]
Operating incomeIncrease US$ 999.7 million (2010)[1]
Net incomeIncrease US$ 588.2 million (2010)[1]
Total assetsDecrease US$ 6.817 billion (2010)[1]
Total equityIncrease US$ 2.334 billion (2010)[1]
Employees32,600 (December 2010)
WebsiteGannett.com
Gannett is headquartered in Tysons Corner, Virginia.

Gannett Company, Inc.[pronunciation?] is a publicly traded media holding company headquartered in Tysons Corner, Virginia, near McLean in Greater Washington DC.[2][3] It is the largest U.S. newspaper publisher as measured by total daily circulation. Its assets include the national newspaper USA Today and the weekly USA Weekend. Its largest non-national newspaper is The Arizona Republic in Phoenix, Arizona. Other significant newspapers include The Indianapolis Star, The Cincinnati Enquirer, The Tennessean in Nashville, Tennessee, The Courier-Journal in Louisville, Kentucky, the Democrat and Chronicle in Rochester, NY, The Des Moines Register, the Detroit Free Press and The News-Press in Fort Myers. Gannett owns or operates 43 television stations through Gannett Broadcasting, Inc.[4] and is the largest group owner of stations affiliated with NBC and CBS.[5][6] Gannett also holds substantial properties in digital media including PointRoll, BNQT Media Group,[7] Planet Discover,[8] Ripple6[9] and ShopLocal through Gannett Digital.

History[edit]

Gannett Company, Inc. was founded in 1923 by Frank Gannett in Rochester, New York as an outgrowth of a newspaper business he had begun in Elmira, New York in 1906. Gannett, who was known as a conservative,[10] gained fame and fortune by purchasing small independent newspapers and developing them into a large chain, a 20th-century trend that helped the newspaper industry remain financially viable.[11] By 1979, the chain had grown to 79 newspapers.[12]

In 1979, Gannett acquired Combined Communications Corp., operator of 17 television stations, as well as an outdoor advertising division, for $370 million.[13][14] (The outdoor advertising became known as Gannett Outdoor, before being acquired by Outdoor Systems (previously a division of 3M), before the company was sold to Infinity Broadcasting, which later became part of Viacom, and is currently a part of CBS Corporation.)

The company was headquartered in Rochester until 1986, when it relocated to Arlington County, Virginia. Its former headquarters building, the Gannett Building, was listed on the National Register of Historic Places in 1985.[15] Gannett's oldest newspaper still in circulation is the Leaf-Chronicle located in Clarksville, Tennessee. In 2001, the company moved to its current headquarters in Tysons Corner, a suburb of Washington, D.C.

Beginning in 2005 at the Fort Myers News-Press, Gannett pioneered the mojo concept of mobile multimedia journalists, reporters who were initially untethered from conventional newsrooms and drove around their communities filing hyperlocal news via Wi-Fi in various formats including text for print publication, still photos for print and online publication, and audio and video for the News-Press website.[16] The practice has spread throughout the chain.

On March 7, 2011, Gannett introduced its new logo for the company, which replaced the stylized "G" logo that was in use since the 1970s (which was notably used on its TV stations as a corporate/local ID for many years, with different animations). The rebranding also introduced a new tagline for the company: "It's all within reach."[17]

In 2011, Gannett was criticized for laying off 700 U.S. employees as a cost-cutting measure after having increased executive salaries and bonuses. Bob Dickey, Gannett's U.S. newspapers division president, was paid $3.4 million in 2010, up from $1.9 million the previous year. In the memo announcing the layoffs, Dickey wrote, "While we have sought many ways to reduce costs, I regret to tell you that we will not be able to avoid layoffs."[18]

Gannett Logo used until March 2011.

In February 2012, Gannett announced that it would be implementing a paywall system across all of its newspaper websites, with non-subscriber access will be limited to between five and fifteen articles per month, varying by newspaper. The USA Today website will be the only one continuing to allow unrestricted access.[19]

On March 24, 2012, the company announced that it would discipline 25 employees in Wisconsin who had signed the petition to recall Governor Scott Walker, stating that this open public participation in a political process was a violation of the company's code of journalistic ethics and that their primary responsibility as journalists was to maintain credibility and public trust in themselves and the organization.[20]

On August 21, 2012, Gannett acquired Blinq Media.[21]

Around the first week of October 2012, Gannett entered a dispute against Dish Network regarding compensation fees and Dish's AutoHop commercial-skip feature on its Hopper digital video recorders. Gannett ordered that Dish discontinue AutoHop on the account that it is affecting advertising revenues for Gannett's television station. Gannett threatens to pull all of its stations should the skirmish continue beyond October 7 and Dish and Gannett fail to reach an agreement.[22][23] The two parties eventually reached an agreement after extending the deadline for a few hours.[24]

Acquisition of Belo Corporation[edit]

On June 13, 2013, Gannett announced plans to buy Dallas-based Belo Corporation for $1.5 billion and the assumption of debt. The purchase would add 20 additional stations to Gannett's portfolio and make the company the fourth largest television broadcaster in the U.S. with 43 stations.[25][26] Because of ownership conflicts that exist in markets where both Belo and Gannett own television stations and newspapers, the use of a third-party company (Sander Media, LLC, owned by former Belo executive Jack Sander) as a licensee to buy stations to be operated by the owner of a same-market competitor and concerns about any possible future consolidation of operations of Gannett- and Belo-owned properties in markets where both own television stations or collusion involving the Gannett and Sander stations in retransmission consent negotiations, anti-media-consolidation groups (such as Free Press) and pay television providers (such as Time Warner Cable and DirecTV) have called for the FCC to block the acquisition.[27][28]

On December 16, 2013, the United States Department of Justice announced that Gannett, Belo, and Sander would need to divest Belo's station in St. Louis, KMOV, to a government-approved third-party that would be barred from entering into any agreements with Gannett, in order to fully preserve competition in advertising sales with Gannett-owned KSDK.[29] The deal was approved by the FCC on December 20,[30] and it was completed on December 23.[31]

Acquisitions[edit]

List of Gannett Co. assets[edit]

Gannett's media properties include the following newspapers among the top 100 (by circulation—figures are approximate) in the United States, and the following television stations:[50][51]

Print media[edit]

Broadcast media[edit]

Gannett Digital[edit]

Directors[edit]

Gannett's chairman, president and chief executive officer was Craig A. Dubow. Dubow resigned on October 6, 2011, citing health reasons. Gracia Martore Gannett's chief operating officer, a 26-year company veteran, was chosen as Dubow's successor.[52] Other directors are:

  • John Jeffry Louis
  • Scott K. McCune
  • Duncan M. McFarland
  • Susan P. Ness

Senior executives are:

References[edit]

  1. ^ a b c d e "2010 Form 10-K, Gannett Co., Inc.". United States Securities and Exchange Commission. 
  2. ^ "Contact Us." Gannett Company. Retrieved on January 10, 2011. "7950 Jones Branch Drive McLean, VA 22107-0150."
  3. ^ "Tysons Corner CDP, Virginia." United States Census Bureau. Retrieved on May 7, 2009.
  4. ^ "Web Sites by Division". Gannett.com. Retrieved 2012-01-04. 
  5. ^ Bachmann, Katy (March 2, 2010). "Gannett Scores With Olympics". Adweek. Retrieved June 25, 2012. 
  6. ^ "Gannett Completes Its Acquisition Of Belo". TVNewsCheck. December 23, 2013. Retrieved December 24, 2013. 
  7. ^ "USA TODAY Media Kit :: Press Room :: Press Release :: January 24, 2008". Usatoday.com. 2008-01-24. Retrieved 2012-01-04. 
  8. ^ "Mobile Apps, Local Search, Business Directory, Events, Ad System – Planet Discover". Planetdiscover.com. Retrieved 2012-01-04. 
  9. ^ [1][dead link]
  10. ^ Lichtman, Allan J. (2008). White Protestant Nation: The Rise of the American Conservative Movement. Atlantic Monthly Press via Amazon.com Look Inside. p. 87. ISBN 0-87113-984-7. Retrieved March 10, 2011. 
  11. ^ Ted Bartlett (August 1985). "National Register of Historic Places Registration: Gannett Building". New York State Office of Parks, Recreation and Historic Preservation. Retrieved 2009-11-01. 
  12. ^ Neiva, Elizabeth M. Chain Building: The Consolidation of the American Newspaper Industry, 1955-80, in Business and Economic History, Vol. 24, no. 1 (Fall 1995)
  13. ^ Associated Press (May 9, 1978). "Gannett, Combined Communications agree to $370-million merger". St. Petersburg Times. Retrieved April 1, 2013. 
  14. ^ Associated Press (June 8, 1979). "Gannett Corp. wins giant merger OK". Deseret News. Retrieved April 1, 2013. 
  15. ^ "National Register Information System". National Register of Historic Places. National Park Service. 2009-03-13. 
  16. ^ Martyn, Peter H. (2009). "The Mojo in the Third Millennium". Journalism Practice 3 (2): 196–215. doi:10.1080/17512780802681264. ISSN 1751-2794. Retrieved November 19, 2011. 
  17. ^ Lieberman, David (March 4, 2011). "Gannett launches corporate branding campaign". USA Today.
  18. ^ Bullard, Gabe (June 21, 2011). "Gannett Executive Bonuses Criticized Amid Layoffs". Louisville, KY: WFPL.
  19. ^ Bercovici, Jeff (February 22, 2012). "Gannett Building Paywalls Around All Its Papers Except USA Today". Forbes.
  20. ^ Lovett, Genia (March 24, 2012). "Genia Lovett column: Post-Crescent journalists shouldn't have signed Wisconsin Governor Scott Walker recall petitions". The Post-Crescent (Appleton, WI). Archived from the original on March 27, 2012. 
  21. ^ Yu, Roger (August 21, 2012). "Gannett buys social-media ad company Blinq Media". USA Today. Retrieved August 22, 2012. 
  22. ^ Loose, Ashley (October 5, 2012). "DISH customers may lose Gannett programming, including 12 News KPNX, over AutoHop feature". KNXV-TV. Retrieved October 6, 2012. 
  23. ^ Vuong, Andy (October 6, 2012). "Gannett threatening to black out stations in its dispute with Dish". Denver Post. Retrieved October 6, 2012. 
  24. ^ Warner, Melodie (October 8, 2012). "Dish, Gannett Reach New Deal". The Wall Street Journal. Retrieved October 8, 2012. 
  25. ^ "Gannett to buy Belo for $1.5 billion". Reuters. 2013-06-13. 
  26. ^ Littleton, Cynthia (June 13, 2013). "Gannett in $2.2 Bil Deal to Acquire Belo Station Group; Deal will expand Gannett's clout as owner of Big 3 affiliates". Variety. Retrieved June 22, 2013. 
  27. ^ Free Press, Others Ask FCC To Deny Some Gannett/Belo Transfers, Broadcasting & Cable, July 24, 2013.
  28. ^ Public Interest Groups, Cable Companies Oppose Gannett-Belo Merger, AdWeek, July 25, 2013.
  29. ^ Eggerton, John (December 16, 2013). "Justice: Sander Can't Keep KMOV". Broadcasting & Cable. Retrieved December 20, 2013. 
  30. ^ "FCC OKs Gannett-Belo And Tribune-Local". TVNewsCheck. Retrieved 20 December 2013. 
  31. ^ Gannett Completes Its Acquisition of Belo, TVNewsCheck, Retrieved 23 December, 2013
  32. ^ Gannett Set To Purchase Tucson Citizen
  33. ^ Gannett, Speidel In Merger
  34. ^ GANNETT TAKES OVER WILMINGTON PAPERS
  35. ^ Gannett to Acquire Nashville Tennessean, Sell Afternoon Paper
  36. ^ Combined Communications Agrees To a $370 Million Gannett Merger
  37. ^ Gannett Buys 11 Newspapers
  38. ^ Gannett To Purchase Des Moines Register
  39. ^ GANNETT GETS FAMILY WEEKLY
  40. ^ GANNETT GETS LOUISVILLE PAPERS FOR 300 MILLION
  41. ^ [2]
  42. ^ Gannett Government Media
  43. ^ Gannett Buys 2 Papers
  44. ^ Gannett announces terms of offer to acquire U.K.'s News Communications & Media
  45. ^ [3]
  46. ^ Gannett to acquire Thomson properties, including 21 daily newspapers
  47. ^ Gannett To Buy Clipper Magazine
  48. ^ [4]
  49. ^ Gannett completes the acquisition of WATL-TV Channel 36 in Atlanta
  50. ^ "Our Locations By Division". Gannett. Retrieved 2012-01-04. 
  51. ^ ""Audit Bureau of Circulations: US Newspapers", September 30, 2010". Abcas3.accessabc.com. 2011-09-30. Retrieved 2012-01-04. 
  52. ^ Krantz, Matt (October 7, 2011). "Gannett CEO Dubow resigns; Martore named successor". USA Today.

External links[edit]