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2018 Annual R Eport 2018 Annual Report | Gannett Co., Inc. | Gannett Co., 2018 Annual Report Gannett Co., Inc. 7950 Jones Branch Dr. McLean, VA 22107 gannett.com SHAREHOLDER SERVICES GANNETT STOCK Gannett Co., Inc. shares are traded on the New York Stock Exchange with the FINANCE symbol GCI. The company’s transfer agent and registrar is Equiniti Trust Ali Engel Company. General inquiries should be directed to EQ Shareowner Services, Senior Vice President, P.O. Box 64854, St. Paul, MN 55164-0854, by telephone at 800-778-3299, or at Chief Financial Officer and Treasurer shareownersonline.com. MEDIA RELATIONS CORPORATE GOVERNANCE Amber Allman Vice President, Corporate Events We have posted on our web site (www.gannett.com) our principles of corporate and Communications governance, ethics policy and the charters for the audit, transformation, nominating and public responsibility, and executive compensation committees THIS REPORT WAS WRITTEN of our board of directors, and we intend to post updates to these corporate AND PRODUCED BY governance materials promptly if any changes (including through any EMPLOYEES OF GANNETT. amendments or waivers of the ethics policy) are made. This site also provides access to our annual report on Form 10-K, quarterly reports on Form 10-Q and Printing current reports on Form 8-K as filed with the SEC. Our chief executive officer and Action Printing, Fond du Lac, WI our chief financial officer have delivered, and we have filed with our 2018 Form 10-K, all certifications required by the rules of the SEC. Complete copies of our corporate governance materials and our Form 10-K may be obtained by writing Printed on recycled paper. our Secretary at our corporate headquarters. For information about Gannett’s practices, programs and policies concerning Gannett is committed to sustainability. environmental, social and governance matters, go to www.gannett.com/ The annual report is printed on corporate-responsibility. Forestry Stewardship Council (FSC) certified paper from managed forests and is printed with soy-based ink. We FOR MORE INFORMATION also embrace a digital workflow to reduce paper use. News and information about Gannett is available at www.gannett.com. Quarterly earnings information will be available in May, August and November 2019. Shareholders who wish to contact the company directly about their Gannett stock should call Shareholder Services at Gannett headquarters, 703-854-6960. GANNETT HEADQUARTERS 7950 Jones Branch Drive McLean, VA 22107 703-854-6000 01 | Company Profile INVESTOR RELATIONS Stacy Cunningham Vice President, Financial Planning & Investor Relations 02 | Letter to Shareholders [email protected] 703-854-3168 04 | Board of Directors CONTENTS COMPANY PROFILE Gannett is a leading global, digitally focused media digital marketing services for a range of clients. and marketing solutions company, reaching nearly Launched in 2018, LOCALiQ is the company’s 49% of the U.S. digital population. unified, data-driven marketing solutions brand that combines Gannett’s products and services under Gannett’s consumer brands include USA TODAY one banner, providing all that clients need to reach NETWORK’s award-winning portfolio of premium customers and grow their businesses. media brands, including the iconic USA TODAY and more than 100 local media organizations in 34 The scope of the products and services Gannett states and Guam, as well as niche passion brands. can provide businesses is comprehensive and Gannett’s newsrooms are recognized by their peers spans both print and digital solutions, including for their journalism excellence and have collectively search engine optimization, display advertising earned 69 Pulitzer Prizes. across desktop, mobile, social and video, data insights, websites, local listings, live chats and lead USA TODAY NETWORK’s tremendous local-to- engagement and automation. national reach touches the lives of about 126 million people on average each month* with trusted The company leverages the extraordinary unique content, consumer experiences, membership insights and data it has culled from previous benefits and advertiser products and services. advertising campaigns to provide clients with the Overall, USA TODAY NETWORK consistently ranks best options for investing their marketing dollars. among the top four in total audience in Comscore’s This ability enables the company to combine its news and information category and is a top news knowledge, intelligent technology, proven expertise, destination for millennials, reaching 47%, or and the power of the USA TODAY NETWORK for a 36 million U.S. millennials monthly. great client experience. In the U.K., Newsquest is a publishing and digital At the company’s core is the belief that workplace leader with more than 150 local media brands and a diversity, inclusion and equity are essential to network of web sites, which attracts more than 25 Gannett’s culture and business success. The million unique visitors monthly. company is committed to having a workforce that reflects the communities it serves and to creating As a company with a rich tradition of industry an environment where everyone feels included and leadership and innovation, Gannett continues to empowered to achieve their best. leverage and grow its content through innovative forms and platforms, including augmented reality, Gannett has several employee engagement and 360-degree video, podcasts and video. For example, charitable contribution programs that support local USA TODAY NETWORK’s “Kind” video franchise – communities. The largest initiative is A Community Humankind, Animalkind and Militarykind – attracted Thrives, through which the company builds on the more than 5.1 billion views across platforms in 2018. strength of USA TODAY NETWORK and harnesses the philanthropic passions of its employees and Gannett also continues to broaden its award- the communities it serves to have positive impact. winning marketing solutions products and services A Community Thrives operates under the auspices to meet emerging consumer and client needs. Over of Gannett Foundation, which since its inception in the last two-and-a-half years, the company has 1991 has donated more than $200 million to non- acquired ReachLocal, SweetIQ and WordStream to profits to support building better communities. offer end-to-end Do-It-For-Me and Do-It-Yourself *Comscore LETTER TO SHAREHOLDERS DEAR SHAREHOLDERS: aligning our sales organization to meet the needs of our various client segments. On behalf of Gannett, we want to thank you for your support of our company. We are all working very As part of our launch of LOCALiQ, hard to make great things happen for our readers, our new data-driven marketing our clients and our communities and continue to be solutions brand, we initiated the full release of our as focused as ever on delivering for our investors. Grader tool, which provides guidance, context, and recommendations around a business’s online marketing All-in-all, 2018 was a transformative year for presence. LOCALiQ Grader combines insights and data Gannett. We continued to execute against a intelligence to enable businesses to compare their number of strategic initiatives, building upon digital presence to that of their competitors – and it has and leveraging our outstanding content and our been a big hit with our clients. marketing solutions products and services to further empower our readers and our clients. Our national sales team achieved a key milestone in 2018 – more than 75% of USA TODAY’s advertising Our premium local news brands, USA TODAY revenues were digital – and the team achieved total and niche media delivered high-quality, trusted advertising revenue growth for the second year in a content, which drove reader engagement higher row. Given the challenges facing many digital media than ever. On the business side, we have continued publishers today, these results underscore the strong growing our digital revenues, with our total digital execution of our strategy by our national sales team advertising and marketing services revenues and the strength of the USA TODAY brand. rising 4.9%, reaching 47% of total advertising and marketing services revenue, nearly hitting that We saw good progress related to our important 50% milestone. newest acquisition, WordStream, with financial results that were ahead Other highlights of the year: of our expectations in the first six • We achieved $2.9 billion in revenue of which $1 months of ownership. WordStream is billion was digital revenue, and $322 million in focused on various revenue initiatives, including cross- adjusted EBITDA. selling SweetIQ’s solutions and product development efforts to drive continued strong growth in 2019. • National digital media revenues finished strong in the fourth quarter, up 18% year-over-year, Consumer with solid results from both our premium and programmatic channels. Our consumer organization is focused on growing overall digital audience and engagement as • Propelled by audience gains for the midterm we create products and experiences that drive elections and other breaking news, November continued growth of our digital subscriber base and 2018 traffic to the USA TODAY NETWORK reached retain print subscribers. 133 million unique users, hitting an all-time record for us, according to Comscore. In the same Highlighting the success of our audience month, we passed the Yahoo/Huffington Post development strategy is our robust audience network to be No. 3 in the news and information growth. According to Comscore, in 2018 we space.
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