When Domino Media Group CEO Nathan Coyle was talking to Domino about its open CEO position last year, he wanted to ensure he could produce growth if he joined. He flipped through Domino magazine for inspiration, noticing people on nearly every page. Despite Domino’s reputation as a shelter title, talking home design, Coyle realized, “it’s also about the cool person that lives there.” He saw that as the opportunity. Readers flock to the magazine in order to find tips and tricks for their home décor, but they also see the person living in the chic home. Coyle believed they want to know more about that person, whether it’s where she goes for brunch, where she works out or where she shops. It was an epiphany: Domino would “have license to extend into adjacent categories.” Coyle had his plan and he took the job. Click Read More below for more of the story.
Gannett Co., Inc. (NYSE: GCI) (“Gannett” or “company” or “we” or “our”) today reported second quarter 2018 financial results for the period ended June 30, 2018 (1).
“We are excited by the continued momentum in our digital business driven by strong growth in our marketing services and national media businesses,” said Robert J. Dickey, president and chief executive officer. “On July 2nd, we successfully closed the WordStream acquisition, which adds more software-as-a-service solutions to our digital marketing services product portfolio and will further propel our digital transformation that is already well underway.”
“The strong margin improvement at our ReachLocal segment and the continued focus on driving efficiencies within our publishing and corporate operations reflect strong execution on our objectives,” said Ali Engel, senior vice president and chief financial officer. “Adjusted EBITDA grew year-over-year and we delivered better than expected margin expansion in the quarter. We are increasing our Adjusted EBITDA guidance range for the year as a result of our stronger first-half performance, combined with the integration of WordStream.”
Second Quarter 2018 Consolidated Results (2)
• Operating revenues were $730.8 million, compared to $774.5 million in the second quarter of 2017.
• Favorable changes in foreign currency exchange rates benefited revenues by $4.7 million.
• Same store operating revenues declined 7.5% year-over-year, consistent with the first quarter decline of 7.2%.
• Total digital revenues increased 8% to $260.9 million, or approximately 36% of total revenue.
• GAAP net income was $16 million, including $22.8 million of after-tax restructuring, asset impairment charges and other costs.
more detail at: https://investors.gannett.com/press-release/gannett-reports-second-quarter-results