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Gannett Acquires Clipper Magazine, Inc.

McLEAN, VA – Gannett Co., Inc. (NYSE:GCI) today announced the acquisition of Clipper Magazine, Inc. of Lancaster, Pa., one of the nation’s largest independent direct-mail advertising magazine companies.

The acquisition also includes several affiliated operations: Spencer Advertising and Marketing, a full service advertising agency; Loyal Customer Club, an e-mail customer retention service, My New Home, a direct mail service to new movers; and, the companion Web site for the core direct mail advertising offerings.

Terms of the deal were not disclosed.

“We are truly excited and expect great results as Clipper continues to grow throughout the country. Clipper will be a strong and welcome addition to Gannett,” said Doug McCorkindale, chairman, president and CEO of Gannett.

Clipper Magazine’s management team will continue to run the company, McCorkindale said.

Clipper Magazine serves a unique niche in the direct mail industry, providing local, regional, and national advertisers ad agency quality graphics in a magazine that serves its readers.

Said founder and CEO Steve Zuckerman: “To grow from a dorm-room idea to a multi-million dollar company was achieved by hard work and persistence in combination with a special corporate culture that values its employees for the long term. We believe our performance and culture is a good fit with Gannett, and believe this transaction will help us continue the growth of the company.”

Founded in 1983 by Steve Zuckerman, Ian Ruzow, and Bob Zuckerman, Clipper Magazine has grown from a single four-page campus advertising publication to over 320 individual market editions in 23 states. Mailed six times annually (more in selected markets), Clipper Magazine mails to over 100 million American homes annually with full color ads featuring promotions and coupons. Clipper’s direct mail products operate as Savvy Shopper in Atlanta, Georgia and Phoenix, Arizona.

Gannett Co., Inc. is a leading international news and information company that publishes 100 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns almost 500 non-daily publications in the USA and USA Weekend, a weekly newspaper magazine. Gannett subsidiary, Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes more than 300 titles, including 17 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 22 television stations in the United States and is an internet leader with sites sponsored by its TV stations and newspapers including, one of the most popular news sites on the Web.

For more information, contact:
Tara Connell
Vice President of Corporate Communications
(703) 854-6049