Gannett rises after implementing $100 million cost reduction program

USA TODAY Co

31/07/2025 13:30

** Shares of U.S. newspaper chain Gannett GCI.N rise 1.6% to $3.71 premarket

** "We are implementing targeted annualized expense reductions of approximately $100 million that we anticipate will create a lower and more variable cost structure," CEO Michael Reed says

** Gannett expects 2025 revenue to be down in low-mid single digits on same-store basis, compared with prior expectations for it to be down in low single digits

** Co reports total revenue of $584.9 million for Q2 vs estimates of $593.1 million

** Up to last close, stock had fallen 27.9% YTD

 (Reporting by Harshita Mary Varghese in Bengaluru)

 ((HarshitaMary.Varghese@thomsonreuters.com))