Gannett Reactivates Share Repurchase Program
McLEAN, VA – Gannett Co., Inc. (NYSE: GCI) announced that it intends to reactivate its existing share repurchase program that was last implemented in February 2000. Under the program, it has authority to repurchase up to $291 million of the company’s common stock.
The shares will be repurchased at management’s discretion, either in the open market or in privately negotiated block transactions. The decision to buy back will depend on price, availability and other corporate developments. Purchases will occur from time to time and no maximum purchase price has been set.
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 USATODAY.com, one of the most popular news sites on the Web.
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Vice President of Corporate Communications