Gannett / GCI

About Gannett

7950 Jones Branch Dr., McLean, Va. 22107
www.gannett.com | 703-854-6000 | Founded: 1906

Industry: Media/Data | Category: Public Companies

Gannett made no eye-popping purchases or divestitures in 2006, focusing on smaller, strategic moves designed to strengthen its position.
The company bought two television stations, one in Atlanta and another in Denver, creating cost-saving, two-station groups in each city. Also, Gannett replaced its retiring chairman, Douglas H. McCorkindale, with Craig A. Dubow, who rose through the company's television division.
On the newspaper side, Gannett switched its first paper, the Lafayette (Ind.) Journal & Courier, from broadsheet to Berliner format, a size that is slightly larger than a tabloid but with individual sections, saying the smaller size is more accessible for readers.
On the digital front, the company increased its stake in CareerBuilder from about one-third to nearly 43 percent, as McClatchy reduced its stake. To bolster its local newspapers' search capabilities, Gannett also bought Planet Discover, an online search and advertising technology. It founded a division to repurpose its TV content for sale to Web and other video outlets.
In the boardroom, the company added two directors, former General Electric executive Arthur H. Harper and John Jeffry Louis, chairman of Parson Capital, bringing the board to nine members. The board also authorized a stock buyback of $1 billion and declared a dividend of 31 cents a share.
The company topped $8 billion in revenue for the first time, but that figure was aided by the extra week in fiscal 2006.

Chairman and CEO: Craig A. Dubow

2006 Financial Data

Revenues: $8,033,354,000 | Net Income: $1,160,782,000
Asssets: $16,223,804,000 | Earnings Per Share: $4.90
Stockholder Equity: $8,382,263,000 | Annual Dividend: $1.20
Total employees: 49,675 | Local employees: 2,545