GCI News & Events

Gannett (GCI) announced it will be changing its name to USA Today Co., Inc., effective November 18, adopting the name of its most recognized masthead, USA Today. "The new corporate identity and name change leverages the power of the newspaper that brought America together by promoting understanding and fostering unity with a focus on being the trusted digital platform that connects audiences across the country," the company stated. The company's common stock will begin trading under the ticker symbol "TDAY" on the New York Stock Exchange as of November 18. "As we celebrate the 250th anniversary of our nation, we also honor the legacy of the newspaper that has focused on uniting America as we evolve to be the platform that powers its voice. We are changing our name and rebranding to embrace our most notable masthead - which is committed to delivering fact-based news, unbiased coverage and essential content that meets audiences in the center. Our focus on empowering and enriching communities at a local and national level as a growth-focused media and digital marketing solutions business is what unites our company in service to our nationwide USA Today Network," said Mike Reed, Chief Executive Officer and Chairman.

Gannett (GCI) announced a new AI licensing agreement with Microsoft (MSFT). Gannett will partner with Microsoft on their upcoming launch of its Publisher Content Marketplace. "We are also very excited to announce this morning our newest AI licensing agreement," said Michael Reed, Gannett chairman and CEO, in comments taken from the company's Q3 earnings press release. Additional details were not disclosed.

Reports Q3 revenue $560.8M, consensus $571.03M. "During the third quarter we continued to make solid progress across several key digital operating priorities while, simultaneously, completing the implementation of our $100 million cost reduction program," said Michael Reed, Gannett chairman and CEO. "In addition, in the third quarter we also achieved a significant milestone for our company with total debt falling below $1.0 billion. The partial summary judgment ruling earlier this week in our lawsuit against Google is also a promising milestone. The decision represents an important step forward, as it establishes liability on several claims. We view the recent ruling as a positive signal for the strength of our case against Google as we continue to move forward. With some digital revenue shifted from the third quarter to the fourth quarter, new AI licensing launching in the quarter, and our $100 million cost program in place, we expect strong digital revenue growth in the fourth quarter, accompanied by significant Adjusted EBITDA and free cash flow growth."