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Gannett Co: Company
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Gannett Co (Gannett) is one of the leading providers of international news and information. The company is engaged in newspaper printing and publishing and broadcasting. The company's product portfolio consists of 90 daily papers including USA TODAY, 1,000 non-daily publications and 23 television stations in the US. The company ... publishes 17 paid-for daily newspapers and almost 300 non-daily publications in the UK through its subsidiary Newsquest. The company primarily operates in the US. It is headquartered in McLean, Virginia and employs about 49,700 people.
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During fiscal 2006, Gannett Co., Inc.'s broadcasting division included 23 television stations in markets with a total of more than 20.1 million households covering 18% of the United States. Captivate Network, Inc. is ... part of the broadcasting division. The principal sources of the Company's television revenues are local advertising focusing on the immediate geographic area of the stations; national advertising; retransmission of content on satellite and cable networks; advertising on the stations' Websites, and payments by advertisers to television stations for other services, such as the production of advertising material. It is broadcasting local newscasts in high definition (HD) in seven cities: Denver, Washington, D.C., St. Louis, Atlanta, Cleveland, Minneapolis and Phoenix.
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Gannett Company, Inc. (NYSE: GCI) is a publicly traded media holding company based in the United States and 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, and other large newspapers include The Indianapolis Star, The Des Moines Register, The Honolulu Advertiser and The Detroit Free Press. Gannett Company, Inc. was founded in 1923 by Frank Gannett in Rochester, New York. The company was headquartered in Rochester, New York until 1986 when it relocated to Arlington, Virginia. In 2001, it moved to its current headquarters in Tysons Corner, a suburb of Washington, D.C. The name of the company is pronounced "guh-NETT", with the emphasis on the second syllable.
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Gannett Co., Inc. and Tribune Interactive, a division of Tribune Company announced a joint venture to expand a national network of local entertainment Web sites under the Metromix brand. The newly formed Company, Metromix LLC, will focus on launching Metromix.com. It will be co owned equally by the two parent companies. Terms of the venture were not disclosed.
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Gannett was the brainchild of Frank Gannett, who paid his way through Cornell University by running a news correspondence syndicate; when he graduated he had $1,000 in savings. Gannett got into the media business in 1906 when he and several associates bought the Elmira Gazette in Elmira, New York, with $3,000 in savings, $7,000 in loans, and $10,000 in notes. They bought another local paper and merged them to form the Star-Gazette, beginning a pattern of mergers to increase advertising power that the company would follow throughout its history. Six years later, in 1912, Gannett bought the Ithaca Journal, beginning his toehold in upper New York state. The company gradually built up a portfolio of 19 New York dailies by 1989.
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On June 26, 2007, Gannett Co., Inc. (the "Company") entered into an underwriting agreement with Citigroup Global Markets Inc. in connection with a proposed public offering of $1,000,000,000 of the Company's Floating Rate Convertible Senior Notes due July 15, 2037. The closing of the offering is expected to occur on June 29, 2007. A copy of the underwriting agreement is filed as an exhibit to this report.
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