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).

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 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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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 Zacks Consensus Estimate of 2 cents, and the prior-year quarter earnings of 5 cents. The better-than-expected results came on the heels of significant cost-cutting measures and newspaper price increase. On a reported basis, including one-time items, the company reported a loss of 25 cents a share, a substantial improvement from the loss of 74 cents delivered in the year-ago quarter. Management now expects to save $475 million in operating costs in 2009 up from $450 million previously anticipated. Operating costs fell 21.6% to $490 million, whereas operating profit surged 30.2% to $80.6 million. Total revenue dipped 16.9% to $570.6 million, primarily due to lower print ...

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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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, reduction in headcount and pay cuts. Operating expenses dropped 14.4% to $1,179.6 million. Gannett’s quarterly earnings of 44 cents a share surpassed the Zacks Consensus Estimate of 38 cents as well as the company’s expected guidance range of 39 cents to 42 cents a share. However, earnings fell 42.1% year-on-year from 76 cents reported in the prior-year quarter due to an 18.4% decline registered in the total revenue of $1,336.6 million. On a reported basis, including one-time items, earnings came in at 31 cents a share, down 55.1% from 69 cents posted in the year-ago quarter. Gannett is facing the same dramatic decline in advertising revenue ...

Amid the secular and cyclical slowdown in print advertising, McClatchy Company (MNI), the third largest newspaper company in the U.S. and the publisher of 30 daily newspapers including the Miami Herald and Sacramento Bee, reported third-quarter 2009 results. McClatchy is facing the same dramatic decline in advertising revenue, as the rest of the newspaper industry. Total advertising revenue fell 28.1% year-on-year to $266.1 million. However, circulation revenue stabilized, up 6.7% to $69 million due to increase in circulation prices. As a result, total revenue slipped 23.1% to $347.4 million. To combat the downturn, management undertook cost-cutting initiatives, focused on building Internet operations and reduced debt load. McClatchy had lowered its headcounts, and cut executive pay. The company was able to lower its cash expenses by 29.4% and total operating expenses by 30.2%. McClatchy’s quarterly earnings remained flat at 13 cents a share compared to ...

The New York Times Company (NYT) shed its plan to sell the Boston Globe after effective cost-cutting measures and an increase in price led to an improved financial position.

The company's series of steps included labor contract concessions expected to cut $20 million yearly in operating costs, consolidation of printing facilities projected to save $18 million a year, reduction in compensation for managers, and a rise in prices for both newsstand and home delivery of the paper. The company is also viewing options to price its online contents on its website, Boston.com.

The newspaper industry has long been grappling with the slump in advertising demand amid the global meltdown, as advertisers are migrating to the Internet due to increasing online readership and lower ad prices.

Earlier in August 2009, The New York Times Company hired Goldman Sachs to explore strategic alternatives for its New England Media Group, which includes Boston Globe,

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Recently, Harbinger Capital Partners, one of the largest investors in The New York Times Company (NYT), offloaded a chunk of its stake in the company. The investment firm sold about 5 million shares at $8.25 per share, fetching $41.3 million in total. This reduces its ownership interest to 16.38% from 19.94%. The shares of New York Times surpassed the selling price and closed at $8.37 on Tuesday, up 2.6% from the previous day’s session. Harbinger made it clear that it has no intention to shed its entire stake. Harbinger Capital started purchasing The New York Times shares nearly two years ago, at prices ranging between $15 and $20 a share, and investing approximately $500 million in aggregate. The firm incurred a significant loss by selling shares at $8.25 each. The investment firm was looking for a ...

Amid the secular and cyclical slowdown in print advertising, McClatchy Company (MNI), the third largest newspaper company in the U.S. and the publisher of 80 newspapers including the Miami Herald and Sacramento Bee, reported second quarter 2009 results.  The company is facing the same dramatic decline in advertising revenue, as the rest of the newspaper industry, reflecting the deepening economic recession. To combat the downturn, management undertook cost-cutting initiatives, focused on building internet operations and reduced debt load. McClatchy lowered its headcounts by 15%, or 1,600 employees, cut executive pay, suspended 401K matching contribution and dividend. The company was able to lower its cash expenses by 29.3% and operating expenses by 28.1%.  Consequently, EPS increased 42.9% year over year to $0.30. On a reported basis, EPS more than doubled to $0.50. Total revenue, however, plummeted 25.4% to $365.3 million, as the fall in total advertising revenue ...

Journal Communications (JRN), a diversified media company with publishing, broadcasting (TV & radio), printing, and direct marketing businesses, recently reported another dismal quarter of plummeting revenue and plunging EPS amid a turbulent economic environment.  The company is feeling the brunt of a slump in advertising demand. Total advertising revenue at the publishing division declined 28.3% year over year to $32.1 million in the second quarter of 2009, although circulation revenue stabilized (up 3.8%). The company saw a sharp fall in automotive advertising (down 56% in the daily newspaper and 49% in broadcasting), the sector that has been hit most by the global recession.  Total revenue tumbled 21.9% to $109.4 million, and as a result, EPS declined more than 50% to $0.07 – in line with our estimate, but ahead of market expectation of $0.03. On a reported basis, however, the company reported net loss per share ...

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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