After Barron’s bombed, Gannett’s stock rises

Updated at 10:13 a.m. ET. GCI shares were up more than 2% in initial trading today.

Earlier: Despite a favorable plug in a new Barron‘s story, GCI shares closed yesterday at $17.20, down 23 cents, after Dallas Morning News publisher Belo Corp. disclosed disappointing earnings.

5 Responses to “After Barron’s bombed, Gannett’s stock rises”

  1. Anonymous Says:

    You are missing this huge story for Monday! Looks like your sources aren’t providing you any of the goods.

    Get off your ass and start investigating. Your blog will lose immediate credibility if you don’t report on these massive layoffs.

  2. Anonymous Says:

    What’s your stake in this, 9:20? Why are you so hellbent on getting Jim to publish an uncorroborated rumor? What’s the point?

    If you have evidence — memos? emails? times? dates? places? anything? — send it to the email address over there on the right.

    Otherwise, give it a rest. If it happens, it happens. Babbling about it here won’t change anything.

  3. Anonymous Says:

    what massive layoffs?????????

  4. Anonymous Says:

    Goodness sakes, it is the high-voiced credibility monitor again!
    First Jim loses cred because he blogs about Gannett’s diminishing stock prices.
    Now Jim might lose cred because he isn’t blathering about layoffs …
    Give it a rest, Cred Monitor.
    Or find a different way to yammer.

  5. Jim Hopkins Says:

    Here’s the most specific information I’m hearing about rumors of layoffs. I’ve asked company flak Tara Connell about this 24 hours ago, and still have not heard back. This is based on a single e-mail from a reader who claims to be in a position to know. Take this with a grain of salt.

    Gannett’s newspapers, and possibly other worksites, are being asked to reset their payroll budget to the levels in June — minus 1%. In other words, publishers must find a way to trim employee expenses by 1%. Proposals were due to HR on Tuesday, with a final announcement (assuming there’s even an announcement) on Monday — tomorrow at the earliest.

    “Look for other changes,” the tipster says, “including a reduction in the number of sections to save labor in press rooms (think: Orlando Sentinel/Chicago Tribune/Los Angeles Times-style) and aggressive geo-consolidations — finance; circulation, including home delivery; human resources and recruiting, and perhaps some news functions (i.e., copy/pagination desks. Wausau, Wis., is the model for smaller, clustered sites).”

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