Mike Reed Sets Goals for New Gannett

https://newjerseyglobe.com/media/as...-fucking-hot-nurse-a-total-jap-photo-caption/

 

That is one terribly edited story, which is appropriate since it involves a Gannett property.

 

You mean "terribly edited," "cheaply done" and "being horrible to its own employees and readerships" doesn't automatically pop up when one types "Gannett" in a search engine?

 

Those processes lasted until the first time there was breaking news, when everyone could publish all the things again all the time because they didn't want to not be first on who lost a school board seat in Asbury.

 

Like I said on the other thread, the Dobbs ruling definitely was a Moment of Life.

 

Gannett releases Q2 financial results. The press release should have been titled the Ship is Sinking, not 2022 Financial Highlights. I quote the press release.

"Second Quarter 2022 Financial Highlights:

• Total revenues of $748.7 million decreased 6.9% compared to the second quarter of 2021
  • Same store revenues(1) decreased 6.3% compared to the second quarter of 2021
• Total digital revenues were $261.8 million or 35% of total revenues, up 1.5% over the same period in the prior year on a same store(1) basis
• Net loss attributable to Gannett of $53.7 million, a margin loss of 7.2%"

 

I chortled to myself when I got a push alert from Yahoo! Finance that said: "Gannett reached a 52-week low at 2.38"

 

Are there any Gannett properties that are legitimate cash cows at this point...? My impression has been that it's more like every paper is just barely above or just barely below the water line at this point, which admittedly makes it more difficult to cut your way to profit. (i.e. Similar to a pro sports team, it's better to have a gaping wound at one position vs. being average at all of them, if you're looking to improve.)

 

Have seen some noise about digital subscriptions being on sale for $22 for 2 years, or $1 for 6 months, in recent days.

I get offering specials to get people teed up, but at some point, you're going to reach the limit of people who will subscribe, no matter what the price is. Then you're depending on the "impossible to cancel" structure once the promotional pricing expires and they are being charged the full price.

Not sustainable.

 

I'd really be interested in seeing what their digital interactions per subscriber is. Or even just general traffic. I imagine more than a few of their subscribers have "forgotten" about it, don't check their monthly statement and rarely check the websites. I see days old news on most Gannett digital front pages.