Mike Reed Sets Goals for New Gannett

Oh, good, I’d hate for our local paper to have local content. It’s been a ghost newsroom since August.

 

Another great earnings report for GCI! I'm sure there are plenty of synergies to be found that will turn the whole thing around before the next earnings report is due!

 

Gannett First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

 

More detailed data, plus Q&A transcript with analysts. Earnings call: Gannett reports robust digital growth in Q1 2024 By Investing.com

 

A better quarter than normal (which is different than good) quarter for Gannett. Revenues were only down five percent, which is better than the eight-ten percent of the last couple of years. However. the company did lose eight-eight million dollars. Forty-six million of this was that the company wrote off the duration of the Tyson's Corner lease since they have moved out of the building. But even considering that the loss is a problem.

Gannett is also deliberatively sloppy their financial reporting. Operating revenue is supposed to be those revenues from continuing operations. So, for example, a car dealer would include sales of his automotive assets revenue from operations because he is constantly buying and selling cars. Gannett should not be reporting the sale of their real estate as income from continuing operations because they never buy new real estate. They only liquidate. It is hard to figure out when they will run out of things to sell and see their cash flow decline.

 

UPDATE: https://www.poynter.org/commentary/2024/gannett-fired-sarah-leach-editor-speaking-press/

Sorry, an editor using an office/company account to contact Poynter, is dumb enough where she should be fired. Yes, ridiculous than a news company is more or less firing a whistleblower - but using your office e-mail? your office computer? DUMB.

 

Wow. What a moron.

 

Not working for Gannett anymore, what a moron, indeed.

 

She's worked for the big G for how many years and this still is a surprise to her?

Leach’s take: “They seem to be more interested in controlling their outward image than listening to their own people.”

Definitely a moron.

 

She’s not working for Gannett anymore. Not a moron. Let’s see how it shakes out but with the publicity and what seems to be some leads, I’d bet she lands in a much better situation.

 

No employer is hiding someone who’s stupid enough to leave so many digital crumbs. Not a Mensa candidate.

 

Really only 2 options:

1) She's a moron and is somehow surprised her actions were able to be traced and resulted in her firing
2) She either wanted to be fired or didn't care about being fired, and now she wants to play the poor, mistreated martyr about it all

Either one is not a good reflection on her.