dChan
Anonymous ID: 2181c6 Feb. 20, 2019, 4:17 p.m. No.5292038   🗄️.is đź”—kun

>>5291709 lb

re GCI. they have not sold a ton of shares but continue to award themselves a bit, not over the top like FB,AMZN or GOOG.

 

Appears they are just waiting for someone to scoop them up. Major shareholder bought big stake at $12/sh so of course they are antsy.

Looks like they spent like drunken sailors for not much performance too.

Buying 'McPaper" was a bad idea in the first place.

this just my opinion

 

earnings today

 

Gannett's Loss Widens as Ad, Circulation Revenue Fall

 

https://finance.yahoo.com/m/aa67fd65-e6fd-337d-859a-02d20b5baf7c/%5B%24%24%5D-gannett%27s-loss-widens-as.html

 

 

this article out this morning

 

MNG Enterprises, Inc. (“MNG”), which owns 7.5% of the outstanding shares of Gannett Co., Inc. (NYSE: GCI) (“Gannett” or “the “Company”), is urging Gannett shareholders to read MNG’s January 14 letter to Gannett and, on the Company’s earnings call at 10:00 AM today, to demand answers to the still unanswered questions about the Company’s recent actions and path forward.

 

On January 14, MNG proposed acquiring Gannett for $12 per share in cash, representing a 41% premium to Gannett’s 2018 year-end share price, and asked the Gannett Board to do the following: (1) enter into discussions with MNG about a strategic combination; (2) hire an investment bank to conduct a review of strategic alternatives, including a potential sale of the Company; (3) commit to a moratorium on digital acquisitions; and (4) commit to a feasible, strategic and financial path forward before hiring a new CEO.

 

Instead, on February 4, 2019, Gannett rejected MNG’s premium all-cash proposal and refused to extend the deadline for director nominations without even first meeting with MNG and its advisors. Having done so, Gannett now will likely seek to spin the Company’s quarterly results in the best possible light, despite the reality of Gannett’s continuing underperformance, and is unlikely to allow questions from MNG, its largest active shareholder.

 

MNG believes the owners of Gannett deserve better and calls on its fellow shareholders to demand answers to the following questions on today’s earnings call:

 

  1. Since 2015, Gannett has spent ~$350mm on digital acquisitions (or 36% of Gannett’s entire market capitalization1) while EBITDA has declined by 31%2 and Free Cash Flow has declined by close to 50%3. Why should shareholders view this strategy shift from print towards digital as anything but a substantial waste of shareholder capital, and why should shareholders have any reason to believe that the Board’s digital strategy will ever bear fruit?

 

rest at link

https://www.marketscreener.com/GANNETT-CO-INC-22890963/news/Gannett-MNG-Urges-Gannett-Shareholders-to-Demand-Answers-to-These-Questions-on-its-Earnings-Call-28037342/