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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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April 24, 2015
09:06 EDTMNIMcClatchy sees FY15 digital-only advertising revenue to grow in double digits
In 2015 the company expects digital-only advertising revenues to grow in the double-digit range on a gross basis, and up in the high-single digit to low double-digit range including the impact of netting $9M in higher wholesale fees against revenues in the first nine months of the year due to the new affiliate agreement entered into on Oct. 1, 2014. Also, growth is expected in direct marketing advertising that will be invigorated by new niche products and events and expanded distribution of its Sunday Select product. Finally, growth in digital subscribers and selective rate increases are expected to continue to fuel low single-digit increases in audience revenues. Management expects newspaper print advertising to continue to represent a smaller share of overall revenue, due in part to the growth in digital-only advertising, direct marketing and audience revenues. McClatchy is focusing on reducing legacy costs tied to its print newspaper products primarily production and distribution expenses, including newsprint expenses. Management expects that even with higher non-cash pension costs and investments in new digital products and enterprise-wide computer systems, cash expenses will decline in the low-to-mid single-digit range. The reductions in legacy costs coupled with revenue initiatives will help counter the continuing negative trends in print advertising. Management expects to have another challenging quarter in the second quarter before cash flow flattens in the second half of 2015. Management noted that expenses may be reduced further if needed based upon the revenue environment.
09:04 EDTMNIMcClatchy board authorizes limited share repurchase program
McClatchy announced that its board had authorized a new limited share repurchase program for the repurchase of up to $7M of its Class A common stock through December 31, 2016. The repurchases are intended to mitigate the dilutive impact of issuing Class A stock under McClatchy's equity compensation plans.
09:03 EDTMNIMcClatchy expects to achieve $25M-$30M of cost savings in 2015
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09:01 EDTMNIMcClatchy reports Q1 EPS (13c) vs. (19c) last year
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April 21, 2015
13:15 EDTGCIGannett announces TEGNA as name of new Broadcasting and Digital company
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08:17 EDTGCIGannett reports Q1 Broadcasting segment revenue up 4% to $396.8M
Operating revenues in the Digital Segment increased substantially in the quarter, 85.1%, compared to the first quarter of 2014 and totaled $332.7M. Publishing Segment revenues in the quarter were $768.2M, down 8.8%.
08:16 EDTGCIGannett reports Q1 EPS 49c, consensus 45c
Reports Q1 revenue $1.5B, consensus $1.52B.
April 20, 2015
15:37 EDTGCINotable companies reporting before tomorrow's open
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April 16, 2015
09:04 EDTGCIGannett announces partnership with ViewLift
Gannett Co. announced an agreement with ViewLift, a full-service provider of custom video applications, to explore development of a new digital sports video service. This new entity will focus on streaming unique sports-related content and select, relevant movies across multiple devices smartphones, tablets, televisions, and PCs.

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