Mike Reed Sets Goals for New Gannett

[wicked]

How the fork does Mike Reed still have a forking job?

 

[Readallover]

How the fork does Mike Reed still have a forking job?

Mike is reported to have bought 60,000 shares of stock https://wallstreetwaves.com/gannett-and-3-other-stocks-under-4-insiders-are-buying/

 

[Twirling Time]

Does she sleep with a simple country lawyer though?

 

[LanceyHoward]

Mike is reported to have bought 60,000 shares of stock https://wallstreetwaves.com/gannett-and-3-other-stocks-under-4-insiders-are-buying/

A sure sign Reed has lost any connection to reality.

 

[LanceyHoward]

I was scanning a Gannett release or corporate report. Gannett says they achieve a three per cent market penetration. Fifteen years ago a good daily paper had 35% market penetration. So Gannett newspapers has lost close to ninety percent of their audience.

 

[wicked]

One now Gannett weekly I worked at c. 1998 claimed 90-something percent penetration. How far we've fallen.

I'd like to see the stats on whether any of the papers sold off by Gannett have increased their penetration rate/lowered churn.

 

[ChadFelter]

Oh boy. More layoffs coming later this month.

 

[rtse11]

A tradition like no other

 

[Readallover]

Oh boy. More layoffs coming later this month.

Source?

 

[LanceyHoward]

Source?

I have no sources but I think it is true. Revenues at Gannett have continued to decline, The company would be motivated to cut costs before the 2023 earnings are released in order to try to show the company has a turnaround plan before 2023 earnings are released.

 

[Readallover]

Quarterly ER released today. On the last page, the last chart shows digital-only subscriptions fell slightly and are at 1.9 million. Yup, they buried the lede.
https://s202.q4cdn.com/162862548/fi...X-99-1-Earnings-Release-Final-Version-2-0.pdf

 

[wicked]

When you raise the price from $1 for six months to $1 a month, you're inevitably going to lose subscribers.