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Gannett Corporation

 

Gannett Corporation

"Gannett" redirects here. For other uses, see Gannett (disambiguation).

Gannett Company, Inc.
Public
Traded as S&P 500 Component
Industry Media
Founded 1906
Founder(s) Frank Gannett
Headquarters Tysons Corner, Virginia, U.S.
(McLean mailing address)
Key people Gracia Martore
(Chairman and CEO)
Products Newspapers
Television
Internet media
Revenue Decrease US$ 5.439 billion (2010)[1]
Operating income Increase US$ 999.7 million (2010)[1]
Net income Increase US$ 588.2 million (2010)[1]
Total assets Decrease US$ 6.817 billion (2010)[1]
Total equity Increase US$ 2.334 billion (2010)[1]
Employees 32,600 (December 2010)
Website Gannett.com

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 23 television stations through Gannett Broadcasting Inc.[4] and is the largest group owner of NBC-affiliated stations.[5] Gannett also holds substantial properties in digital media including PointRoll, BNQT Media Group,[6] Planet Discover,[7] Ripple6[8] and ShopLocal through Gannett Digital.

History

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,[9] 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.[10] By 1979, the chain had grown to 79 newspapers.[11]

In 1979, Gannett acquired Combined Communications Corp., operator of 17 television stations, as well as an outdoor advertising division, for $370 million.[12][13] (The outdoor advertising became known as Gannett Outdoor, before being acquired by Outdoor System (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.[14] 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.[15] 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."[16]

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."[17]


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.[18]

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.[19]

On August 21, 2012, Gannett acquired Blinq Media.[20]

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.[21][22] The two parties eventually reached an agreement after extending the deadline for a few hours.[23]

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.[24][25] 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.[26][27]

Acquisitions

List of Gannett Co. assets

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:[44][45]

Print media

Broadcast media

Gannett Digital

Directors

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.[46] Other directors are:

  • Marjorie Magner
  • John E. Cody
  • Howard D. Elias
  • Arthur H. Harper
  • John Jeffry Louis
  • Scott K. McCune
  • Duncan M. McFarland
  • Susan P. Ness

Senior executives are:

  • Robert Dickey, President, U.S Community Publishing Division
  • Paul Davidson - Chairman & Chief Executive Officer, Newsquest plc
  • Michael G. Kane Senior Group President, Interstate Newspaper Group, and President and Publisher, Rochester Democrat and Chronicle
  • Roxanne Horning Senior Vice President, Gannett Human Resources
  • Dave Lougee President, Gannett Broadcasting
  • Gracia Martore President and Chief Executive Officer
  • John A. (Jack) Williams President, Gannett Digital Ventures
  • Jake Guzik, Finance Controller.
  • William Behan Senior Vice President, Gannett Labor Relations
  • W. Curtis Riddle Senior Group President, East Newspaper Group, and President and Publisher, The News Journal, Wilmington, Delaware
  • John A. (Jack) Williams President, Gannett Digital Ventures
  • Todd Mayman - Senior Vice President, General Counsel and Secretary
  • David Payne Senior vice president and chief digital officer
  • Carol Hudler Senior Group President, South Newspaper Group, and President and Publisher, "The Tennessean"
  • Saira Stahl Vice President, Strategy

References

External links

  • Gannett Company website
  • Gannett Local
  • Columbia Journalism Review
  • Gannett, Encyclo: an encyclopedia of the future of news, Nieman Journalism Lab
  • The New York Times

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