Gannett records loss and increase of digital subscriptions

Gannett, owner of USA TODAY, reported lower revenues on Thursday and a net loss in the fourth quarter after its merger with New Media Investment Group in November, an agreement that created the largest print media company and one of the most Great for digital audience.

The results came when the recently combined company registered an increase of more than 25% in digital subscriptions.

The company, which took the name of Gannett, generated total revenues of $ 1.05 billion in the quarter, 9.7% less than the previous year, due in large part to the decrease in revenue from printing.

New Media acquired the largest Gannett, changed its name and began combining the operations of the two companies.

The new company recorded a net loss of $ 115.7 million for the quarter, which included a reduction of $ 101 million due to “revaluation of intangibles” and $ 146 million in charges related to restructuring and transaction costs.

Adjusted earnings before interest, taxes, depreciation and amortization totaled $ 141.2 million for the quarter, which was 19% lower than the same period of the previous year.

Gannett shares fell 0.5% to $ 4.87 at 3:27 p.m. Thursday.

The company, whose more than 260 media properties include Arizona Republic, Columbus Dispatch, Detroit Free Press and Austin American-Statesman, also reported a 25.3% increase in digital subscriptions to 812,000 when their numbers are combined. Paid online subscriptions are considered critical for the success of media companies in the digital age, due to the decline in newspaper dollars.

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