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NEW YORK - Gannett Co., Inc. (NYSE:GCI) reported sequential improvement across key financial metrics for the second quarter ended June 30, 2025, including expanded Total Adjusted EBITDA margins and a return to growth in digital advertising.
The media company posted net income attributable to Gannett of $78.4 million, representing a 13.4% margin, on total revenues of $584.9 million. While total revenues decreased 8.6% year-over-year, digital advertising increased 4% in the second quarter, reversing a decline from the first quarter.
"We saw meaningful improvement in our digital advertising trends, which increased from a decline in the first quarter to an increase of 4% in the second quarter, and we expect digital advertising trends to further improve in the third quarter," said Michael Reed, Chairman and Chief Executive Officer, in the press release.
The company announced plans to implement targeted annualized expense reductions of approximately $100 million to create a "lower and more variable cost structure." These cost-cutting measures are intended to increase margins and support Total Adjusted EBITDA growth in the second half of 2025 and for full-year 2026.
Debt reduction remains a priority for Gannett, which repaid $23.4 million of debt in the second quarter and approximately $100 million in the first half of 2025. The company now expects to exceed its initial projections by repaying over $135 million of debt by year-end.
Total Adjusted EBITDA for the quarter was $64.2 million with margins expanding to 11% from approximately 9% in the previous quarter. Cash provided by operating activities totaled $32.6 million, while free cash flow was $17.6 million.
The company also highlighted progress in its AI initiatives, including a licensing deal with Perplexity and the beta launch of Taboola’s generative AI answer engine, DeeperDive, within its USA TODAY platform.
For the second half of 2025, Gannett expects total digital revenues to grow approximately 3%-5% on a same store basis, with total revenues projected to decline in the low single digits.
In other recent news, Gannett Co., Inc. announced the introduction of DeeperDive, an AI-powered answer engine developed by Taboola, on the USA TODAY website. This technology aims to provide readers with responses to their queries using content exclusively from USA TODAY and the USA TODAY Network. Additionally, Gannett’s digital marketing unit, LocaliQ, has launched an AI Voice Agent for its Dash lead management platform, enhancing its existing SMS capabilities with voice interactions. In corporate developments, Gannett appointed Joe Miranda as Chief Technology and Data Officer, who will focus on integrating AI and big data analytics across the company’s digital platforms.
The company also formed a multi-year partnership with AddressUSA to create an online real estate portal within the USA TODAY Network, integrating property listings with editorial content on various real estate topics. At its annual stockholders’ meeting, Gannett elected nine directors to serve until the 2026 annual meeting and ratified Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. These developments reflect Gannett’s ongoing efforts to enhance its digital offerings and strengthen its leadership team.
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