GCI Stock Recent News

It adds to an already extensive list of lawsuits against the company for alleged anticompetitive behavior.

The company said Google's alleged misconduct has harmed publishers, particularly those running local news operations.

Gannett Co. Inc. GCI, -4.10% disclosed Tuesday that it filed a civil suit against Google and its parent Alphabet Inc., seeking damages for the “anticompetitive monopolization” of advertising technology markets and for “deceptive” commercial practices. The publisher of the USA Today newspaper and site alleges that news publishers don't see the growth in ad spending because Google unlawfully acquired and maintains monopolies for tools publishers and advertisers use to buy and sell online ad space.

Publisher Gannett plans to include generative artificial intelligence in the system it uses to publish stories as it and other news organizations begin to roll out the popular technology that may help save money and improve efficiency.

LOS ANGELES — The Los Angeles Times on Wednesday announced plans to cut 74 jobs due to economic challenges as the newspaper strives to transform itself into a digital media organization.

Journalists across the U.S. will walk off their jobs next week at roughly two dozen newsrooms run by Gannett, the largest newspaper chain in the U.S., their union said Thursday.

Gannett Co, Inc. (NYSE:GCI ) Q1 2023 Earnings Conference Call May 4, 2023 8:30 AM ET Company Participants Matthew Esposito - IR Michael Reed - Chairman, CEO & President Douglas Horne - CFO & CAO Conference Call Participants Courtney Bahlman - Barclays Douglas Arthur - Huber Research Operator Greetings, and welcome to the Gannett First Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

Gannett owns "USA Today" and is the largest news publisher in the U.S. Its business has struggled due to the rapidly transforming news industry and high debt levels. But Gannett has the potential to unlock a lot of value.

While the company is showing some improvement, I believe its share price is getting ahead of itself. Revenue in Q4 2022 was down 10.3 percent from a decline in print and digital advertising revenue.

Gannett Co, Inc. (NYSE:GCI ) Q4 2022 Earnings Conference Call February 23, 2023 8:30 AM ET Company Participants Matthew Esposito - IR Michael Reed - Chairman, CEO & President Douglas Horne - CFO & CAO Conference Call Participants Jason Bazinet - Citigroup Leon Cooperman - Omega Advisors Operator Greetings, and welcome to the Gannett Fourth Quarter Earnings Call. [Operator Instructions].