| |||||||||||||||||||||||
| |||||||||||||||||||||||
The blogosphere is atwitter over the prospects that Gannett Co., the publisher of USA Today and 85 other newspapers, is preparing for a sale. The "evidence" for the speculation can be found in a recent 10-Q filing that includes a change in its transitional compensation plan. Footnoted.org spotted the change, and concluded it was "interesting." After all, Footnoted called the language pretty standard. However, it didn't stop other bloggers — namely Dealbook and Deal Journal — to conclude the changes could mean the company is preparing to go on the block.
Nonetheless, there is a catch: the price. Despite trading near a 52-week low — or, as Footnoted points out, a 10-year low — Gannett has an $11 billion market cap making a takeover very expensive — especially when the $5 billion in debt is factored in. Only Dealbook suggested a buyer with pockets deep enough to consider a Gannett purchase, General Electric Co., but the post was skeptical that the conglomerate would have any interest in print journalism. Of course if Gannet entertains selling itself piecemeal — perhaps restructuring around its 23 TV stations — it might find some interested bidders, especially for USA Today. —Matthew Wurtzel
See
SEC filing Tags: Gannett, media, newspapers, deals, m&a, mergers CategoriesComments
From: Matthew Wurtzel,
Thanks for the link. However, its not unusual for companies to share board members, so I'm not certain it validates the Gannett-GE rumor. Plus, GE's decision not to bid for Dow Jones, which would have been a better strategic fit, pretty much suggests it wouldn't bid for another newspaper publisher. After all, 85 local newspapers would run afoul of the FTC's rules on TV and newspaper cross-ownership. However, GE might have a passing interest in USA Today and some of the 23 TV stations again supporting my suggestion a piecemeal sale is more likely.
Posted on:
August 10, 2007 2:16 PM
From: Payday Loan,
Luckily, Gannett Newspaper employees will still have access to payday loans. While many companies have (and still continue) to cut a huge portion of their staff because of the weakening economy, Gannett Inc. unraveled a creative way to save money. The company, who owns several newspapers across the country, decided that a required unpaid leave will be the best way to save the company money and still allow employees to keep their jobs. Sure, they’ll miss out on a week’s pay, but what’s that compared to losing your job altogether? Best of all, they can still be qualified for payday loans during emergency situations. I found this article that talks about how people are saving money. It provides some great money saving tips that I’m sure you will definitely benefit from.
Posted on:
January 21, 2009 3:26 AM
 Deal Video
    Community
 Elsewhere on The Deal.comDealwatchThe Deal MagazineCorporate Dealmaker
The Deal VideoCategories
Blog roll
Archives
| |||||||||||||||||||||||
|
|
|
|
|
It sounds like Gannett is definately planning a sale. NewsVisual is also saying that GE is probably the most likely make an offer for Gannett, and they've got some evidence that may validate the rumor. There are some pretty good board ties between the companies, and one of Gannett's directors, Arthur Harper, was head of one of GE's divisions until 2006 (see article: http://www.newsvisual.com/newsvisual/2007/08/ties-between-ge.html).