Bauer Media Group announces that it will enter the marketing and sales services sector as part of its new business strategy, focusing on the small and mid-sized enterprises (SME) market. Bauer will offer SME clients marketing communication and lead generation as-a-service - a comprehensive and fully integrated range of solutions, brought together via an easy-to-use portal/cockpit enabling tracking, control and performance analysis. This addresses a clear and sizeable market opportunity; the European market for digital advertising amounted to roughly £42 billion in 2018 with a strong growth trajectory. The new offer provides a good strategic fit with Bauer Media Group’s existing business, drawing on its knowledge and familiarity with the marketing ecosystem and capabilities already in the portfolio. Click Read More below for additional detail.
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