Gannett Co., Inc. (NYSE:GCI) Q3 2019 Earnings Conference Call Transcript

Nov 04, 2019 • 10:00 am ET

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Gannett Co., Inc. (NYSE:GCI) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Gannett Company Inc. Third Quarter 2019 Earnings Conference Call. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Stacy Cunningham, Vice President of Financial Planning and Investor Relations. Thank you. Please go ahead ma'am.

Executive
Stacy Cunningham

Thank you. Good morning everyone, and welcome to Gannett's third quarter 2019 earnings conference call. As a reminder, this call is being recorded and webcast. Joining us today from Gannett is Paul Bascobert, Chief Executive Officer and Ali Engel, Chief Financial Officer.

Before we begin, I would like to call your attention to our Safe Harbor provision for forward-looking statements in our financial results press release. The Safe Harbor provision identifies risk factors that may cause actual results to differ materially from the contents of our forward-looking statements. For more detailed description of the risk factors that may affect our results, please refer to our financial results press release and our SEC filings, including our 2018 Form 10-K.

Also during this call, management's commentary will include non-GAAP financial measures, reconciliations between GAAP and non-GAAP metrics for our reported results can be found in the tables of our financial results press release, which we have posted to our Investor Relations website.

With these formalities out of the way, I'd now like to turn the call over to Paul.

Executive
Paul Bascobert

Thanks, Stacy. Good morning, and thank you everyone for joining us today. Before I talk about third quarter results, I want to take a moment to say how honored I am to lead Gannett during this exciting new chapter. From the beginning, I was drawn to Gannett's mission to help our communities connect, act and thrive. I've always been passionate about this industry, and I share this Company's commitment to supporting and investing in quality, local journalism.

Next, I'd like to take a moment this morning to give a brief update on our pending merger with New Media, which is expected to close following our special shareholder meeting scheduled for November 14, assuming we receive the necessary shareholder approvals. The merger creates an exciting opportunity to deliver on our shared mission of journalistic excellence, or also driving compelling value for shareholders of both companies. Once the transaction closes, we will more than double our number of local markets, enhancing both our scale and our ability to monetize our technology and product investments.

The combined operations will have a broad, local to national network of incredibly talented, experienced journalists who can continue to deliver unique award-winning content for both local communities and national audiences. We'll have an even stronger digital marketing solutions portfolio to better service SMBs and help them grow their businesses, as we bring together New Media's UpCurve in our ReachLocal operations.

Importantly, as we look to the future, Gannett will continue to innovate around what we believe is our core competitive advantage, our local brands and our engaged