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News Breaks
August 5, 2014
08:58 EDTGCI, MNI, AHCGannett says 'time is now right' for publishing unit spin-off
Gannett (GCI) says all companies financially and strategically strong in their respective markets in regards to the A.H. Belo (AHC), McClatchy (MNI) deal. In regards to the spin-off of the company's publishing business, says "time is now right" to create two separate companies. Says company will maintain a strong balance sheet after the spin-off and the publishing company will be virtually debt free. Says each company will be able to pursue value enhancing acquisitions with fewer regulatory obstacles and unlock higher potential for growth after the spin-off. Says both companies will still collaborate with one another despite them being two independent entities. Says the company will be in optimum position to increase shareholder value thanks to the spin-off. Sees deal to be accretive to free cash flow by 43c per share and neutral to EPS in FY14. Says is a "strong" cash generator. Company plans to use that cash from the transaction towards value enhancing opportunities. Says until the transaction closes, the company will not buyback any shares. Comments made during the company's investor call.
News For GCI;AHC;MNI From The Last 14 Days
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May 20, 2015
13:20 EDTAHCA.H. Belo authorizes 1M share repurchase plan
In a regulatory filing earlier, A.H. Belo reported that on May 14, the company's board of directors authorized the repurchase of up to an additional 1M shares of the company’s series A common stock, par value 1c per share or series B common stock, par value 1c per share. As of April 30, the company had 393,824 shares remaining under its prior share repurchase authorizations.
May 8, 2015
10:48 EDTGCIJPMorgan broadcasting analysts hold analyst/industry conference call
Broadcasting Analysts, along with Gannett Broadcasting President Lougee, E.W. Scripps Senior Vice President of Television Lawlor, TVB CEO Lanzano and Nexstar Broadcasting CEO Sook discuss the Broadcasting Industry outlook on an Analyst/Industry conference call to be held on May 8 at 11 am.

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