For Immediate Release

Chicago, IL – October 23, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: The New York Times Company (NYT), Washington Post Company (WPO), Journal Communications (JRN), Gannett Co. (GCI) and McClatchy Company (MNI).

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Here are highlights from Thursday’s AnalystBlog:

NY Times Beats Zacks Consensus

Amid the secular and cyclical slowdown in print advertising The New York Times Company (NYT) recently reported third-quarter 2009 results that topped the Zacks Consensus Estimate.

The New York Times quarterly earnings of 16 cents a share surpassed the

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For Immediate Release

Chicago, IL – October 20, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Gannett Co. Inc. (GCI), Washington Post Company (WPO), Journal Communications (JRN), McClatchy Company (MNI) and The New York Times Company (NYT).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday’s AnalystBlog:

Gannett Beats Zacks Consensus

Gannett Co. Inc. (GCI), the largest newspaper publisher in the U.S., recently reported third-quarter 2009 results. Despite a faltering economy and decline in print advertising revenue, the company’s earnings topped expectations, buoyed by effective cost-cutting measures, lower newsprint expense,

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It has been a long time since we had good news from the newspaper industry. But thanks to today’s upbeat figures from Gannett (NYSE:GCI), the industry is surging. Lee Enterprises (NYSE:LEE) has taken the lead.

There is a rare bit of good news for the newspaper industry this morning – and it’s a whopper!

Share prices across the downtrodden sector are soaring today thanks to word from Gannett (NYSE:GCI) that the company expects to handily beat its third-quarter earnings projections.

Gannett told its investors today to expect per share earnings (after one-time costs) in the range of 39 cents to 42 cents when the company releases its latest quarterly figures on October 19.

Before the press release, estimates pegged the figure at 28 cents per share.

Not surprising, the increase is not due to a sudden increase in subscriptions or advertising revenue. Instead, a reduction in paper costs and

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Shares of Gannett Co. (GCI) surged 28.9% to close at $4.50 on Jul 15, 2009. The upbeat sentiment in the stock was due to the company’s stronger-than-expected second-quarter results, due to cost-cutting initiatives such as job cuts, salary reduction, furloughs and lower newsprint expenses. The company is laying off nearly 1,400 employees or about 3% of its headcount.

Gannett reported EPS of $0.46, excluding special items, surpassing the Street estimate of $0.37. Although, EPS fell more than 50% year over year, it increased sharply by 84% on a sequential basis. On a reported basis, the company's EPS was $0.30, compared to a net loss per share of $10.03 in the prior-year quarter.

Total revenue, however, tumbled 17.8% to $1,412.6 million due to sustained weakness in the U.S. and U.K. economies. The turbulent economy continues to hamper advertising revenue. Gannett's Publishing segment revenue declined 25.8% to $1,117.3 million as newspaper advertising

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Gannett Co. (GCI), the news and information company, has been struggling with plummeting advertising revenue for a long time, which has forced job cuts to control rising operating costs. The advertising revenue dipped 34.1%, whereas circulation revenue plunged 3.1% in the first quarter of 2009.

Recently, on July 2, 2009, the company announced that it would lay off 1,400 employees or about 3% of its headcount this month at its publishing division. Gannett announced that each of its markets will complete its own downsizing plan depending on local conditions.

On July 9, 2009, the Courier-Journal newspaper operating in the Louisville market laid off 44 employees, or 7% of its work force, as part of the company’s downsizing plan. Earlier, 51 employees were laid off in December 2008. The Arizona Republic newspaper operating in Phoenix lowered its headcount by 100.

The company also started executing its plans to eliminate 106 full-time and 19

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Standard & Poor's Upgrades McClatchy's Corporate Rating

On Tuesday June 30, 2009, Standard & Poor's raised its corporate credit rating for newspaper publisher McClatchy (MNI) to "CC" (highly vulnerable) from "SD," (selective default). The rating agency still holds a negative view on the company on account of its possible restructuring.

Last Friday, June 26, both Standard & Poor's and Moody's Investor Services had lowered their corporate ratings on the company following the debt exchange offer announced by McClatchy. Moody's lowered its corporate rating to "Caa2" from "Caa1", whereas Standard & Poor's lowered its credit rating to "SD" from "CC." McClatchy offered to pay $60 million in cash and issue $175 million in new notes, with a 15.75% coupon rate due 2014, to replace $1.15 billion in debt owed to its bondholders.

The reason behind downgrading was the company's dubious ability to repay debt and high default risk. On the announcement of

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On Friday June 26, 2009, McClatchy (MNI) announced the expiration of its private exchange offer, which commenced on May 21, 2009. The company offered to exchange the Old Securities for up to $60 million in cash and up to $175 million of newly issued 15.75% Senior Notes due 2014.

The coupon rate has substantially increased from the range of 4.625%-7.150%. With the increase in coupon rate, the company's interest coverage ratio which stood at 2.8x (EBITDA/Interest expense) will decline, and may fall below the covenanted minimum interest coverage ratio of 2.25x. The company's leverage ratio (Debt/TTM EBITDA) was 5.9x at the end of 1Q09 up from 5.1x at the end of 2008, approaching recently-amended bank covenants of 6.25x.

After the expiration of the offer, according to Global Bondholder Services Corporation, the depositary for the Exchange Offer, $102.9 million in debt had been tendered. McClatchy received tenders from

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Highlights include The McClatchy Company (MNI), The New York Times Company (NYT), Washington Post Co. (WPO), Lee Enterprises (LEE), Gannett Co. (GCI) and Journal Communications (JRN).McClatchy: Expensive Debt Exchange Offer Extends MaturitiesIt's an offer bondholders can't refuse.The McClatchy Company (MNI) has announced an offer to exchange $1.15 billion in debt securities for cash and new notes in a move that extends its earliest maturities and lessons the threat of default -- but at a very steep price.The publisher of 80 newspapers, including the Miami Herald and Sacramento Bee, will issue new notes, due 2014, that raise its interest rate to 15.75%, from 4.63% to 7.15% on its current debt securities, but extends its nearest maturity from 2011 to 2014.There will be sufficient cash and new notes to repurchase all of the company's notes ...

Highlights include The McClatchy Company, Inc. (MNI), The New York Times Co. (NYT), Journal Communications (JRN), Gannett Co. (GCI) and Washington Post Company (WPO).McClatchy Losses Widen on Plunging Ad RevenuesThe McClatchy Company, Inc. (MNI) reported 1Q09 financial results that showed ad revenue in free-fall as the company scrambles to cut costs to plug growing losses. The report by the nation's third largest newspaper company reflects the dire state of the industry, where bankruptcies and closures occur almost weekly.The publisher of 80 newspapers including the Miami Herald and Sacramento Bee, said adjusted EPS from continuing operations fell to a loss of $0.28 in 1Q09 from a small profit of $0.03 in 1Q08. The loss was far greater than expected but estimates have lost meaning in an industry in crises.Ad revenue plunged 29.5%, though circulation stabilized (+0.9%). Online ...