Gannett Elects Board Members, Declares Dividend; Shareholders Approve One-Year Terms for Directors
McLEAN, VA – Shareholders of Gannett Co., Inc. (NYSE: GCI) today re-elected Charles B. Fruit, Arthur H. Harper and John Jeffry Louis to the Board of Directors at the annual meeting held at the company’s headquarters. Each received more than 98% of the votes cast.
The three were elected to serve three-year terms ending at Gannett’s annual meeting in 2010. Gannett’s shareholders also ratified the appointment of Ernst & Young as the company’s independent accounting firm for the 2007 fiscal year and defeated an independent chairman proposal.
A proposal by the Board of Directors to amend the Company’s Certificate of Incorporation and By-laws to eliminate the classified board structure was approved. Beginning with the Company’s 2008 annual meeting, directors will be elected for one-year terms or until their successors are elected. The amendments will not curtail the term of any director currently in office.
The Board of Directors also declared a regular quarterly dividend of 31 cents per share, payable on July 2, 2007 to shareholders of record on June 8, 2007.
Gannett Co., Inc. is a leading international news and information company that publishes 90 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns nearly 1,000 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 nearly 300 titles, including 18 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.
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