fbpx

Home » Gannett’s Board Approves Plan to Separate Broadcast and Print Properties

Gannett’s Board Approves Plan to Separate Broadcast and Print Properties

by | Jun 9, 2015

Gannett’s board of directors has approved completion of the previously announced separation transaction which will create two publicly traded companies: a broadcasting and digital company named Tegna and new Gannett, which will retain the name Gannett Co. Inc. and will include its publishing properties and affiliated digital assets, reports TV NewsCheck.  Gannett is based in McLean, Va.

Under terms of the transaction, continued the report, Gannett shareholders will retain their shares of Gannett (which will be renamed Tegna) and receive one share of new Gannett for every two shares of Gannett stock they own on the record date of June 22, 2015, and new Gannett shares will begin “regular way” trading on June 29.

Gracia Martore, president-CEO of Gannett, will be president-CEO of Tegna upon completion of the separation. She said: “In just three weeks, we will create two industry leaders that will benefit greatly from enhanced strategic, operating, financial and regulatory flexibility as independent companies. We believe strongly that this transaction will enhance performance, unlock shareholder value and give investors access to more targeted investment opportunities with trading valuations that better reflect the distinctive characteristics and growth profiles of both companies,” continued the report.

About the Author

Capitol Communicator is a unique online and offline resource for Mid-Atlantic advertising, marketing, public relations, digital and media communications professionals. The e-magazine, e-newsletters and events bring together communications professionals, fostering community and providing important information; news; trends; education; and opportunities for networking, career enhancement, business exchange and showcasing great work. Visit www.capitolcommunicator.com to learn more.

0 Comments

Submit a Comment

Your email address will not be published.

Sponsors

Brand Creep

What’s our differentiator?

CAPITOL COMMUNICATOR CAREER CENTER SEARCH RESULTS (JOBS IN MULTIPLE LOCATIONS)

MEDIA KIT

Recent Comments

Categories

SEARCH FOR ADVERTISING, MARKETING & PR AGENCIES, PROFESSIONALS AND SERVICES

Find out more  Powered by COMMUNICATIONSMATCHTM

REGISTER.
CHOOSE AN AGENCY OR INDIVIDUAL DIRECTORY OR COMPREHENSIVE PROFILE PLAN.

Find out more  Powered by COMMUNICATIONSMATCHTM

REGISTER.CHOOSE AGENCY SELECT
TO REQUEST MORE INFORMATION & STREAMLINE RFPs

Find out more  Powered by COMMUNICATIONSMATCHTM