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Transcript of Fourth-Quarter 2014 Earnings Conference Call
GCI - Q4 2014 Gannett Co., Inc. Earnings Call (EDITED FOR CLARITY) EVENT DATE/TIME: FEBRUARY 03, 2015 / 10 AM ET OVERVIEW: Co. reported 4Q14 total Co. revenues of $1.7b and GAAP diluted EPS of $2.92. 1 FEBRUARY 03, 2015 / 10 A.M. GMT, GCI - Q4 2014 Gannett Co., Inc. Earnings Call CORPORATE PARTICIPAN TS Jeff Heinz Gannett - VP of IR Gracia Martore Gannett - President and CEO Victoria Harker Gannett - CFO Dave Lougee Gannett - President of Gannett Broadcasting Bob Dickey Gannett - President of US Community Publishing CONFERENCE CALL PART ICIPANTS John Janedis Jefferies & Company - Analyst Bill Bird FBR & Co. - Analyst Craig Huber Huber Research Partners - Analyst Alexia Quadrani JPMorgan - Analyst Marci Ryvicker Wells Fargo - Analyst Doug Arthur Evercore ISI - Analyst Jim Goss Barrington Research Associates, Inc. - Analyst Edward Atorino The Benchmark Company - Analyst Michael Kupinski Noble Financial Group - Analyst Barry Lucas Gabelli & Co. - Analyst Liang Feng Morningstar - Analyst PRESENTATION Operator Good day everyone, and welcome to Gannett's fourth-quarter 2014 earnings conference call. This call is being recorded. Due to the large number of callers, we will limit you to one question or comment. We greatly appreciate your cooperation and courtesy. Our speaker for today will be Gracia Martore, President and Chief Executive Officer, and Victoria Harker, Chief Financial Officer. At this time I would like to turn the call over to Jeff Heinz, Vice President, Investor Relations. Please go ahead. Jeff Heinz - Gannett - VP of IR Thanks, Kayla. Good morning, and welcome to our earnings call and webcast. Today, our President and CEO Gracia Martore, and our CFO, Victoria Harker will review Gannett's fourth-quarter 2014 results. -
E.W. Scripps Company Expects Newspaper Spinoff to Retain Tax-Free Status in Journal Media Group Acquisition
E.W. Scripps Company expects newspaper spinoff to retain tax-free status in Journal Media Group acquisition For immediate release Oct. 7, 2015 CINCINNATI – The E.W. Scripps Company (NYSE: SSP) expects the spinoff and merger of its newspaper operations with those of Journal Communications to remain tax free for Scripps and its shareholders if Journal Media Group (NYSE: JMG) is acquired by Gannett Company (NYSE: GCI). Gannett announced plans for the acquisition today. On April 1, Scripps and Journal Communications simultaneously spun off and merged their newspaper operations to form Journal Media Group in a transaction that was tax free for Scripps and its shareholders. At the time of this deal, Scripps and Journal Communications entered into a Tax Matters Agreement to address Scripps’ and Journal Media Group’s rights and obligations with respect to a number of matters, including any sale of Journal Media Group before the second anniversary of the closing of the deal. Under that agreement, Journal Media Group is required to provide Scripps with an unqualified opinion of tax counsel confirming that the tax-free status of the spin-off of Scripps newspapers will be preserved in the event of a sale of Journal Media Group. Scripps has received this tax opinion, which concludes that the sale of Journal Media Group will not result in the prior Scripps spinoff becoming taxable to Scripps or its shareholders. About Scripps The E.W. Scripps Company serves audiences and businesses through a growing portfolio of television, radio and digital media brands. Scripps is one of the nation’s largest independent TV station owners, with 33 television stations in 24 markets and a reach of nearly one in five U.S. -
The Archive of American Journalism Ray Stannard Baker Collection
The Archive of American Journalism Ray Stannard Baker Collection McClure’s Magazine September, 1898 How the News of the War is Reported WAR with Spain began, so far as the newspapers were concerned, when the “Maine” was blown up in Havana harbor. The explosion occurred at 9.40 o’clock on the evening of February 15, 1898. At half-past two on the following morning the first reports, filed by the correspondents in Havana, reached New York, and at daylight newsboys in every city in America were crying the extras which gave the details of the disaster. Before noon on the 16th, a tug steamed out of the harbor at Key West with three divers on board. In the few hurried hours after the news reached New York “The World” had telegraphed its representative in Key West, and divers had been roused out of bed, had collected their paraphernalia, and had embarked on the newly chartered tug for Havana. Early in the afternoon, “The World” correspondent in Havana received the following cabled instructions: “Have sent divers to you from Key West to get actual truth, whether favorable or unfavorable. First investigation by divers, with authentic results, worth $1,000 extra expense tomorrow alone.” But when the divers arrived, they were not allowed to make a descent, and all that the newspaper sponsors of the enterprise derived from the expedition was a bill of expense amounting to nearly $1,000. This was the beginning. During the next few days scores of correspondents were rushed into Havana, and half a hundred great newspapers began to fill with news and pictures of the wreck. -
The Obama Administration and the Press Leak Investigations and Surveillance in Post-9/11 America
The Obama Administration and the Press Leak investigations and surveillance in post-9/11 America By Leonard Downie Jr. with reporting by Sara Rafsky A special report of the Committee to Protect Journalists Leak investigations and surveillance in post-9/11 America U.S. President Barack Obama came into office pledging open government, but he has fallen short of his promise. Journalists and transparency advocates say the White House curbs routine disclosure of information and deploys its own media to evade scrutiny by the press. Aggressive prosecution of leakers of classified information and broad electronic surveillance programs deter government sources from speaking to journalists. A CPJ special report by Leonard Downie Jr. with reporting by Sara Rafsky Barack Obama leaves a press conference in the East Room of the White House August 9. (AFP/Saul Loeb) Published October 10, 2013 WASHINGTON, D.C. In the Obama administration’s Washington, government officials are increasingly afraid to talk to the press. Those suspected of discussing with reporters anything that the government has classified as secret are subject to investigation, including lie-detector tests and scrutiny of their telephone and e-mail records. An “Insider Threat Program” being implemented in every government department requires all federal employees to help prevent unauthorized disclosures of information by monitoring the behavior of their colleagues. Six government employees, plus two contractors including Edward Snowden, have been subjects of felony criminal prosecutions since 2009 under the 1917 Espionage Act, accused of leaking classified information to the press— compared with a total of three such prosecutions in all previous U.S. -
Hudson's Front Matter.Vp
User's Guide Listings in Hudson's Washington News Media Contacts fall into several major media categories: • News Services • Newspapers • Syndicates & Columnists • Radio & TV Stations • Magazines & Periodicals The Table of Contents is your detailed guide through these major categories and their subdivisions. In the case of major media—Newspapers, Radio & TV Stations, and Magazines & Periodicals—the listings are organized by type of news—general and specialized, as well as by their connection to DC—those with a DC Bureau and those headquartered in the DC metro area. This 2019 edition includes four indexes to help you to find exactly what you are looking for: • Entry Name Index is an alphabetical listing of all media organizations, including newspapers, television, magazines, radio, and more. • Geographic Index/Foreign Media is a guide to all foreign media with a presence in D.C. arranged by country and then city. • Personnel Index is an alphabetical listing of all media contacts, including publishers, editors, bureau chiefs, correspondents, reporters, photographers, and more. • Magazine Subject Index lists all magazines by their topic, from Advertising & Public Relations to Urban Affairs. Key Telephone Numbers Senate Press Gallery ..........................................(202) 224-0241 House Press Gallery ..........................................(202) 225-3945 U.S. Senate Radio & Television Correspondents Gallery..............(202) 224-6421 House Radio Television Correspondents’ Gallery ...................(202) 225-5214 Senate Periodical -
Spring Special 2017
www.newsandtech.com www.newsandtech.com Spring SPECIAL ISSUE 2017 The premier resource for insight, analysis and technology integration in newspaper, magazine, digital and hybrid production. ALEXA WHAT’S THE DAY’S NEWS? ALEXA WHAT’S AI? ALEXA WHAT’S OTT? ALEXA WHAT’S VR? Turn to page 37 for expanded industry coverage u 1 www.newsandtech.com — Let’s write the future with retrofit solutions that give your press another ten years of life. ABB’s retrofit solutions for newspaper presses will extend the productive life of your press, improve print quality, reduce waste and improve effi- ciency – for a fraction of the cost of a new press. Worried about the availability of spare parts for your existing controls? With an ABB retrofit you know that spares will be available worldwide for 10 to 15 years. Whether you are looking for replacement drives, new controls or a complete press reconfiguration, ABB has the right solution for you. The future of your printing business lies with ABB. abb.com/printing 2 t Spring SPECIAL ISSUE 2017 News & Tech www.newsandtech.com WSJ partners with Google, experiments with VR u BY KIRSTEN STAPLES CONTRIBUTING WRITER The Wall Street Journal is using new Photos: Courtesy of WSJ the power to put the viewer into the story technology to find better ways to connect like VR. By doing this you can literally cre- with readers using their virtual reality app ate empathy on a level that was previously on Google Daydream. This collaboration impossible.” with Google allows WSJ readers to experi- Readers can tune in to 360-video by ence 360-degree video news. -
Changing China Published by Oxford University Press, Inc
OXFORD UNIVERSITY PRESS Oxford University Press, In c., publishes works that further Oxford University's objective of excellence in research, scholarship, and education. ~~~ c Auckla nd Cape Town Dares Salaam Hong Kong Karachi 0 n t e fl ts Ku ala Lumpur Madrid Melbourne Mexico City Nairobi New Delhi Shanghai Taipei Toronto With offices in Argentina Austria Brazil Chile Czech Republic France Greece Guatemala Hungary Italy Japan Poland Portugal Singapore South Korea Switze rl and Thailand Turkey Ukraine Vietnam Copyrig ht © 2on by Susan L. Shirk Changing Media, Changing China Published by Oxford University Press, In c. 198 Madison Avenue, New York, New York Joo16 Susan L. Shirk www.oup.com 2. China's Emerging Public Sphere: The Impact of Oxford is a registered trademark of Oxford University Press Media Commercialization, Professionalism, and the All rights reserved. No part of thi s publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, Internet in an Era of Transition 38 electronic, mechanical, photocopying, recording, or otherwise, Qj_an Gang and David Bandurski without the prior perm iss ion of Oxford University Press. Library of Congress Catalogin g-in-Publicati on Data 3· The Rise of the Business Media in China 77 Changing media, changing China / edited by Susan L. Shirk. Hu Shuli p. em. Includes bibliographical references and index. ISBN 978-o-19-975198-3; 978-o-19-975 197-6 (pbk.) 4· Between Propaganda and Commercials: 1. Mass media-China. 2. Mass media and culrure-Chin a. Chinese Television Today 91 I. Shirk, Susan L. -
121 Chapter Four 4 Adaptive Strategies of News
CHAPTER FOUR 4 ADAPTIVE STRATEGIES OF NEWS AGENCIES: NICHE AREAS IN NEWS EXCHANGE This chapter introduces the various levels of news agencies participating in the study1. These included SAPA, AP, Reuters, AFP, DPA, PANA, and IPS. The chapter is largely descriptive of the various news agencies. It relates their adoption of specialised areas of news production, “niches,” and the influence of this on their operations and news exchange relationships. The chapter addresses the first two research questions posed in the introduction namely; why are news agencies important in global news flows? What characteristics distinguish various levels or types of news agencies? This study defines “niches” as specialised foci in news production. It is a particular area of news that an agency is good at and the most competitive in producing. Niches represent the adapting role or function of news agencies in a changing news environment. It is a key ‘signature’ or identifier of an agency’s activities. The study identifies niches in news production as an important theme in proposing why news agencies are relevant and important, and their distinguishing features or characteristic. This theme also explains the structure of news agencies, how they relate to each other and in the global flow of news. SAPA, for example, specialises in the coverage of “domestic news” about South Africa for the South African media (SAPA Editor, 2005). Reuters specialises in “financial and economic news” on every continent, which has it integrated (and the other agencies less directly so) in the economic system of global capitalism because the news that it imparts assists business decisions globally (Reuters Bureau Chief, 2006). -
Newspaper Acquisitions
Newspaper Acquisitions PUBLISHED FOR THE NEWSPAPER INDUSTRY BY DIRKS, VAN ESSEN & MURRAY Volume 19, Issue 4 © Dirks, Van Essen & Murray Year-End 2015 Report What’s Inside Year in review: Deal volume sets new 4th Quarter Complete list of daily newspapers sold in 2015 post-2008 record Largest deals hit page 5 More than half of the year’s dollar Peter Barbey takes the helm at The newspaper deal market set new post- volume occurred in the fourth quarter, the Village Voice recession highs in dollar volume and number page 6 with the largest transactions involving of transactions involving daily newspapers as many of the largest newspapers to Longevity in the West: which the year ended with a flurry of activity. change hands in 2015. papers have been owned the longest? Driven by a large number of small-market The quarter opened with an announce - page 7 transactions and a handful of significant ment that Gannett had agreed to buy group deals, the value of newspaper sales Journal Media Group for $280 million. surpassed $800 million for the first time since And it ended with the sales of three 2008. regional newspapers – the Las Vegas Owen D. Van Essen The largest deals of the year inclued (NV) Review-Journal, the Erie (PA) President Gannett’s agreement to buy Journal Media Times-News and the Fredericksburg Group for $280 million (expected to close in (VA) Free Lance-Star – in separate Philip W. Murray transactions. Executive Vice President 2016), the sale of the Las Vegas (NV) Review-Journal, the earlier sale of Stephens In total, more than $500 million in Sara E. -
Hudson's Front Matter.Vp
User's Guide The listings in Hudson's Washington News Media Contacts fall into several major media catego- ries: • News Services • Newspapers • Syndicates & Columnists • Radio & TV Stations • Magazines & Periodicals The Table of Contents is your detailed guide through these major categories and their subdivisions. In the case of major media—Newspapers, Radio & TV Stations, and Magazines & Periodicals—the listings are organized by type of news—general and specialized, as well as by their connection to DC—those with a DC Bureau and those headquartered in the DC metro area. This 2018 edition includes four indexes to help you to find exactly what you are looking for: • Entry Name Index is an alphabetical listing of all media organizations, including newspapers, television, magazines, radio, and more. • Geographic Index/Foreign Media is a guide to all foreign media with a presence in D.C. arranged by country and then city. • Personnel Index is an alphabetical listing of all media contacts, including publishers, editors, bureau chiefs, correspondents, reporters, photographers, and more. • Magazine Subject Index lists all magazines by their topic, from Advertising & Public Relations to Urban Affairs. Key Telephone Numbers Senate Press Gallery ..........................................(202) 224-0241 House Press Gallery ..........................................(202) 225-3945 U.S. Senate Radio & Television Correspondents Gallery..............(202) 224-6421 House Radio Television Correspondents' Gallery....................(202) 225-5214 Senate -
Management%20And%20Resistance%20In%20The%20Digital%20Newsroom.Pdf
City Research Online City, University of London Institutional Repository Citation: Bunce, M. (2019). Management and resistance in the digital newsroom. Journalism, 20(7), pp. 890-905. doi: 10.1177/1464884916688963 This is the accepted version of the paper. This version of the publication may differ from the final published version. Permanent repository link: https://openaccess.city.ac.uk/id/eprint/16440/ Link to published version: http://dx.doi.org/10.1177/1464884916688963 Copyright: City Research Online aims to make research outputs of City, University of London available to a wider audience. Copyright and Moral Rights remain with the author(s) and/or copyright holders. URLs from City Research Online may be freely distributed and linked to. Reuse: Copies of full items can be used for personal research or study, educational, or not-for-profit purposes without prior permission or charge. Provided that the authors, title and full bibliographic details are credited, a hyperlink and/or URL is given for the original metadata page and the content is not changed in any way. City Research Online: http://openaccess.city.ac.uk/ [email protected] Management and resistance in the digital newsroom Abstract What happens when there is conflict between the profit motivations of a news outlet and the professional values of its journalists? Similar questions of managerial influence and journalistic autonomy have interested media scholars from the seminal work of Warren Breed (1955) onwards. However, there have only been a handful of studies since the introduction of audience metrics which, this research suggests, allow managers to more efficiently monitor and discipline their journalists. -
MERGER PROPOSED—YOUR VOTE IS VERY IMPORTANT on August 5, 2019, New Media Investment Group Inc
MERGER PROPOSED—YOUR VOTE IS VERY IMPORTANT On August 5, 2019, New Media Investment Group Inc. (‘‘New Media’’) entered into an Agreement and Plan of Merger (the ‘‘merger agreement’’) with Gannett Co., Inc. (‘‘Gannett’’), Arctic Holdings LLC, a wholly owned subsidiary of New Media (‘‘Intermediate Holdco’’), and Arctic Acquisition Corp., a wholly owned subsidiary of Intermediate Holdco (‘‘Merger Sub’’), pursuant to which, subject to the terms and conditions of the merger agreement, Merger Sub will merge with and into Gannett, with Gannett continuing as the surviving corporation and an indirect wholly owned subsidiary of New Media (the ‘‘merger’’). In connection with the execution of the merger agreement, New Media also entered into the Amended and Restated Management and Advisory Agreement (the ‘‘Amended Management Agreement’’) with FIG LLC, an affiliate of Fortress Investment Group LLC. Subject to the terms and conditions of the merger agreement, at the effective time of the merger (the ‘‘effective time’’), each share of common stock, par value $0.01 per share, of Gannett (‘‘Gannett common stock’’) issued and outstanding immediately prior to the effective time (subject to limited exceptions, including shares as to which appraisal rights have been properly exercised in accordance with Delaware law) shall be converted automatically into (1) 0.5427 (the ‘‘exchange ratio’’) of a fully paid and nonassessable share of common stock, par value $0.01 per share, of New Media (‘‘New Media common stock’’), and (2) the right to receive $6.25 in cash, without interest (the ‘‘cash consideration’’), plus cash in lieu of any fractional shares of New Media common stock that otherwise would have been issued.