Gannett 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 28, 2015	Jul. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Gannett Co., Inc.
Entity Central Index Key	1,635,718
Document Type	10-Q
Document Period End Date	Jun. 28, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-27
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		115,035,230
Trading Symbol	GCI

Condensed Combined Balance Shee

Condensed Combined Balance Sheets - USD ($) $ in Thousands	Jun. 28, 2015	Dec. 28, 2014
Current assets
Cash and cash equivalents	$ 62,292	$ 71,947
Accounts receivable, less allowance for doubtful accounts of $8,400 and $5,788, respectively	311,396	357,523
Inventories	37,993	38,944
Assets held for sale	23,566	18,434
Prepaid expenses and other current assets	46,470	44,222
Total current assets	481,717	531,070
Property, plant and equipment at cost, less accumulated depreciation of $1,719,353 and $1,655,676, respectively	909,698	934,483
Goodwill	585,058	544,345
Intangible assets, less accumulated amortization	84,649	50,115
Deferred income taxes	225,506	261,322
Investments and other assets	41,010	63,125
Total assets	2,327,638	2,384,460
Current liabilities
Accounts payable	110,056	125,888
Accrued expenses	192,125	192,897
Income taxes payable	18,957	13,675
Deferred income	88,703	77,123
Total current liabilities	409,841	409,583
Postretirement medical and life insurance liabilities	87,068	93,474
Pension liabilities	629,048	770,041
Other noncurrent liabilities	160,343	173,890
Total liabilities	$ 1,286,300	$ 1,446,988
Commitments and contingent liabilities (See Note 10)
Equity
Parent’s investment, net	$ 1,700,518	$ 1,615,584
Accumulated other comprehensive loss	(659,180)	(678,112)
Total equity	1,041,338	937,472
Total liabilities and equity	$ 2,327,638	$ 2,384,460

Condensed Combined Balance She3

Condensed Combined Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 28, 2015	Dec. 28, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 8,400	$ 5,788
Accumulated depreciation	$ 1,719,353	$ 1,655,676

Condensed Combined Statements o

Condensed Combined Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Operating revenues:
Advertising	$ 410,487	$ 463,976	$ 807,753	$ 916,416
Circulation	265,904	275,482	537,162	555,330
Other	50,681	57,064	99,517	113,909
Total operating revenues	727,072	796,522	1,444,432	1,585,655
Operating Expenses:
Cost of sales and operating expenses	468,531	509,742	948,375	1,024,210
Selling, general and administrative expenses	176,884	182,105	355,213	370,470
Depreciation	23,958	24,403	48,386	48,842
Amortization of intangible assets	3,608	3,475	7,007	6,987
Facility consolidation and asset impairment charges	5,097	9,479	6,646	19,023
Total operating expenses	678,078	729,204	1,365,627	1,469,532
Operating income	48,994	67,318	78,805	116,123
Non-operating income:
Equity income in unconsolidated investees, net	4,495	3,083	10,802	7,258
Other non-operating items, net	22,895	488	21,437	679
Total non-operating income	27,390	3,571	32,239	7,937
Income before income taxes	76,384	70,889	111,044	124,060
Provision for income taxes	23,057	18,780	24,470	30,772
Net income	$ 53,327	$ 52,109	$ 86,574	$ 93,288
Earnings per share – basic and diluted (in dollars per share)	$ 0.46	$ 0.45	$ 0.75	$ 0.81

Condensed Combined Statements 5

Condensed Combined Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 53,327	$ 52,109	$ 86,574	$ 93,288
Other comprehensive income (loss), before tax:
Foreign currency translation adjustments	25,568	11,889	5,075	16,270
Pension and other postretirement benefit items:
Amortization of prior service credit, net	(731)	(1,305)	(1,454)	(1,938)
Amortization of actuarial loss	14,240	10,723	28,460	21,244
Remeasurement of postretirement benefits liability	0	0	0	32,887
Other	(22,935)	(9,329)	(4,396)	(15,445)
Pension and other postretirement benefit items	(9,426)	89	22,610	36,748
Other comprehensive income, before tax	16,142	11,978	27,685	53,018
Income tax effect related to components of other comprehensive income	(229)	(1,383)	(8,753)	(15,257)
Other comprehensive income, net of tax	15,913	10,595	18,932	37,761
Comprehensive income	$ 69,240	$ 62,704	$ 105,506	$ 131,049

Condensed Combined Statements 6

Condensed Combined Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014
Cash flows from operating activities:
Net income	$ 86,574	$ 93,288
Adjustments to reconcile net income to net cash flow from operating activities:
Gain on acquisition	(21,799)	0
Depreciation and amortization	55,393	55,829
Facility consolidation and asset impairment charges	6,646	19,023
Pension and other postretirement expenses, net of contributions	(119,502)	(61,795)
Equity income in unconsolidated investees, net	(10,802)	(7,258)
Stock-based compensation	6,516	8,296
Change in other assets and liabilities, net	23,669	8,131
Net cash flow from operating activities	26,695	115,514
Cash flows from investing activities:
Capital expenditures	(20,617)	(34,230)
Payments for acquisitions, net of cash acquired	(28,668)	0
Payments for investments	(2,000)	(1,500)
Proceeds from investments	12,402	8,680
Proceeds from sale of certain assets	11,841	23,600
Net cash flow used for investing activities	(27,042)	(3,450)
Cash flows from financing activities:
Deferred payments for acquisitions	(1,218)	(1,313)
Transactions with Parent, net	(8,156)	(114,200)
Net cash flow used for financing activities	(9,374)	(115,513)
Effect of currency exchange rate change on cash	66	353
Decrease in cash and cash equivalents	(9,655)	(3,096)
Balance of cash and cash equivalents at beginning of period	71,947	78,596
Balance of cash and cash equivalents at end of period	$ 62,292	$ 75,500

Basis of presentation and summa

Basis of presentation and summary of significant accounting policies	6 Months Ended
	Jun. 28, 2015
Basis of Presentation and Significant Accounting Policies [Abstract]
Basis of presentation and summary of significant accounting policies	Basis of presentation and summary of significant accounting policies Separation from Parent: On August 5, 2014, the former Gannett Co., Inc., now TEGNA Inc. (“Parent”), announced its plan to separate its publishing business into an independent, publicly traded company named Gannett Co., Inc. (“Gannett,” “our,” “us” and “we”). A Registration Statement on Form 10 relating to the separation was filed with the U.S. Securities and Exchange Commission (the “SEC”), subsequently amended and declared effective by the SEC on June 12, 2015. On June 29, 2015, Parent completed the separation through a pro rata distribution to Parent’s stockholders of 98.5% of the outstanding shares of our common stock, and our common stock began trading “regular way” on the New York Stock Exchange. Each holder of Parent common stock received one share of our common stock for every two shares of Parent common stock held on June 22, 2015, the record date for the distribution. Following the distribution, Parent owns shares representing 1.5% of our outstanding common shares. Parent will continue to own our shares for a period of time not to exceed five years after the distribution. Parent structured the distribution to be tax free to its U.S. shareholders for U.S. federal income tax purposes. Gannett is a leading international, multi-platform news and information company that delivers high-quality, trusted content where and when consumers want to engage with it on virtually any device. Our operations comprise 112 daily publications in the U.S. and the U.K., more than 400 non-daily local publications in the U.S. and more than 140 such titles in the U.K. Our 93 U.S. daily publications include USA TODAY. Basis of presentation: Historically, we have not prepared separate financial statements. The accompanying unaudited condensed combined financial statements are derived from the condensed consolidated financial statements and accounting records of Parent and present our combined financial position, results of operations and cash flows as of and for the periods presented as if we were a separate entity. These unaudited condensed combined financial statements are presented in accordance with generally accepted accounting principles (“GAAP”). In preparing these unaudited condensed combined financial statements, management has made certain assumptions or implemented methodologies to allocate various expenses from Parent to us and from us back to Parent in the form of cost recoveries. These allocations represent services provided between the two entities and are more fully detailed in Note 12 — Related party transactions with affiliates. All such costs and expenses are assumed to be settled with Parent through “Parent’s investment, net” in the period in which the costs were incurred. Current income taxes are also assumed to be settled with Parent through “Parent’s investment, net” and settlement is deemed to occur in the year following recognition in the current income tax provision. We believe the assumptions and methodologies used in these allocations are reasonable; however, such allocated costs, net of cost recoveries, may not be indicative of the actual level of expense that would have been incurred had we been operating on a stand-alone basis. Accordingly, these unaudited condensed combined financial statements may not necessarily reflect our combined financial position, results of operations and cash flows had we operated as a stand-alone entity during the period presented. All of our internal intercompany accounts have been eliminated in combination. All significant intercompany transactions between either (i) us and Parent or (ii) us and Parent affiliates have been included within the unaudited condensed combined financial statements and are considered to be effectively settled through equity contributions or distributions at the time the transactions were recorded. The accumulated net effect of intercompany transactions between either (i) us and Parent or (ii) us and Parent affiliates are included in “Parent’s investment, net.” These intercompany transactions are further described in Note 12 — Related party transactions with affiliates. The total net effect of these intercompany transactions is reflected in the Unaudited Condensed Combined Statements of Cash Flows as financing activities. Our accompanying unaudited condensed combined financial statements have been prepared in accordance with the instructions for Form 10-Q and therefore do not include all information and footnotes which are normally included in a Form 10-K and annual report to shareholders. These unaudited condensed combined financial statements should be read in conjunction with the combined financial statements and combined notes thereto included in our Registration Statement on Form 10, as amended. In our opinion, the financial statements reflect all adjustments of a normal recurring nature necessary for a fair presentation of results for the interim periods presented. Business combinations: We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair value of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to intangible assets. Critical estimates in valuing certain identifiable assets include but are not limited to expected long-term revenues; future expected operating expenses; cost of capital and appropriate discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. Recent accounting standards: In July 2015, the Financial Accounting Standards Board (“FASB”) delayed the effective date for Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“Topic 606”). The core principle contemplated by ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. We are required to adopt the standard in the first quarter of 2018 and retroactively apply it to our 2016 and 2017 financial results at the time of adoption. Under the new rules, we are permitted to adopt the new standard in 2017. We can also choose to apply the standard using either the full retrospective approach or a modified retrospective approach, which recognizes a cumulative catch up adjustment to the opening balance of retained earnings. We are currently assessing the impact and timing of adopting this pronouncement and the transition method we will use.

Acquisitions and dispositions

Acquisitions and dispositions	6 Months Ended
	Jun. 28, 2015
Business Combinations [Abstract]
Acquisitions and dispositions	Acquisitions and dispositions On June 1, 2015, we completed the acquisition of the remaining 59.4% interest in the Texas-New Mexico Newspapers Partnership (“TNP”) that we did not own from Digital First Media. We completed the acquisition through the assignment of our 19.5% interest in the California Newspapers Partnership (“CNP”), valued at $34.4 million , and additional cash consideration, net of cash acquired, of $5.2 million . As a result, we own 100% of TNP and no longer have any ownership interest or continuing involvement in CNP. Through the transaction, we acquired news organizations in Texas ( El Paso Times ), New Mexico ( Alamogordo Daily News; Carlsbad Current-Argus; The Daily Times in Farmington; Deming Headlight; Las Cruces Sun-News; and Silver City Sun-News ) and Pennsylvania ( Chambersburg Public Opinion; Hanover Evening Sun; Lebanon Daily News ; and The York Daily Record ). The purchase price was preliminarily allocated to the tangible assets and identified intangible assets acquired based on their estimated fair values. The excess purchase price over those fair values was recorded as goodwill. At the acquisition date, the purchase price assigned to the acquired assets and assumed liabilities is summarized as follows: In thousands Current assets $ 12,310 Property, plant and equipment 20,792 Intangible assets 28,440 Goodwill 28,250 Total assets acquired 89,792 Current liabilities 10,860 Noncurrent liabilities 11,878 Total liabilities assumed 22,738 Net assets acquired $ 67,054 The fair value of our 40.6% interest in TNP on the acquisition date was $26.6 million . We recognized a $21.8 million pre-tax non-cash gain on the transaction. This gain is included in “Other non-operating items, net” on the Unaudited Condensed Combined Statements of Income. The impact to our Unaudited Condensed Combined Statements of Income, since the June 1, 2015, acquisition date, was approximately $6.5 million of revenue. Acquired property, plant and equipment will be depreciated on a straight-line basis over the assets’ respective estimated remaining useful lives. Goodwill is calculated as the excess of the consideration transferred over the fair value of the identifiable net assets acquired and represents the future economic benefits expected to arise from other intangible assets acquired that do not qualify for separate recognition, including assembled workforce and non-contractual relationships, as well as expected future synergies. We expect the purchase price allocated to goodwill and mastheads will be deductible for tax purposes. The initial purchase price allocation is preliminarily based upon all information available to us at the present time and is subject to change; such changes could be material. We continue to review the underlying assumptions and valuation techniques utilized to calculate the fair value of the mastheads and customer relationships. On May 26, 2015, Newsquest paid $23.5 million , net of cash acquired, to purchase 100% of the shares of Romanes Media Group (“RMG”), one of the leading regional media groups in the U.K. RMG publishes local newspapers in Scotland, Berkshire and Northern Ireland and its portfolio comprises one daily newspaper, 28 weekly newspapers and their associated websites.

Facility consolidation and asse

Facility consolidation and asset impairment charges	6 Months Ended
	Jun. 28, 2015
Restructuring and Related Activities [Abstract]
Facility consolidation and asset impairment charges	Facility consolidation and asset impairment charges We evaluated and revised the carrying values and useful lives of property, plant and equipment at certain sites to reflect the use of those assets over a shortened period because of facility consolidation efforts. Certain assets classified as held-for-sale according to Accounting Standards Codification (“ASC”) Topic 360 resulted in us recognizing non-cash charges in both 2015 and 2014 as we reduced the carrying values to equal the fair value less cost to dispose. The fair values were based on the estimated prices of similar assets. We recorded pre-tax charges for facility consolidations and asset impairments of $5.1 million and $9.5 million for the three months ended June 28, 2015 and June 29, 2014, respectively, and $6.6 million and $19.0 million for the six months ended June 28, 2015 and June 29, 2014, respectively.

Goodwill and other intangible a

Goodwill and other intangible assets	6 Months Ended
	Jun. 28, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible assets	Goodwill and other intangible assets The following table displays information on our goodwill, indefinite-lived intangible assets and amortizable intangible assets: In thousands June 28, 2015 Dec. 28, 2014 Gross Accumulated Amortization Gross Accumulated Amortization Goodwill $ 585,058 $ — $ 544,345 $ — Indefinite-lived intangibles: Mastheads and trade names 31,398 — 13,469 — Amortizable intangible assets: Customer relationships 197,600 (147,003 ) 173,822 (140,720 ) Other 14,279 (11,625 ) 14,279 (10,735 ) Customer relationships include subscriber lists and advertiser relationships and are amortized on a straight-line basis over their useful lives. Other intangibles are primarily amortizable trade names and are amortized on a straight-line basis over their useful lives. The following table summarizes the changes in our net goodwill balance through June 28, 2015: In thousands Balance at Dec. 28, 2014: Goodwill $ 7,358,420 Accumulated impairment losses (6,814,075 ) Net balance at Dec. 28, 2014 544,345 Activity during the period: Acquisitions (see Note 2) 38,510 Foreign currency exchange rate changes 2,203 Total 40,713 Balance at June 28, 2015: Goodwill 7,423,488 Accumulated impairment losses (6,838,430 ) Net balance at June 28, 2015 $ 585,058

Retirement plans

Retirement plans	6 Months Ended
	Jun. 28, 2015
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Retirement plans	Retirement plans We, along with our subsidiaries, have various defined benefit retirement plans, including plans established under collective bargaining agreements. A portion of our current and former employees also participated in Parent-sponsored pension plans. Retirement benefits obligations pursuant to the Parent-sponsored retirement plans related to our current and former employees were transferred to us at the separation date and, accordingly, have been allocated to us in our unaudited condensed combined financial statements for all periods presented. This allocation was done by determining the projected benefit obligation of participants for which the liability was transferred. The most significant defined benefit plan is the Gannett Retirement Plan (“GRP”). Total fair value of GRP plan assets was $2.0 billion as of December 28, 2014. We have been allocated $1.8 billion as of December 28, 2014 based upon a preliminary estimate of the assets to be transferred; however, the final amounts to be transferred will be completed in accordance with regulatory requirements and it is reasonably possible that the amounts transferred for liabilities and assets could change from the amounts presented in these combined financial statements. Our retirement plan costs include costs for all of our qualified plans and our allocated portions of Parent-sponsored qualified and non-qualified plans and are presented in the following table: In thousands Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Service cost-benefits earned during the period $ 1,107 $ 693 $ 2,209 $ 2,302 Interest cost on benefit obligation 32,810 36,488 65,486 72,977 Expected return on plan assets (48,755 ) (51,977 ) (97,326 ) (103,399 ) Amortization of prior service cost 1,734 1,750 3,468 3,484 Amortization of actuarial loss 13,846 10,605 27,673 20,918 Expense (credit) for retirement plans $ 742 $ (2,441 ) $ 1,510 $ (3,718 ) For the six months ended June 28, 2015, Parent contributed $112.0 million to the GRP, of which we have been allocated $104.7 million . We will make additional contributions of $25 million in each of the next five fiscal years ending in 2020 and $15 million in 2021. For the six months ended June 28, 2015, we contributed $ 5.8 million (£ 3.8 million ) to the Newsquest Pension Scheme in the U.K. (“Newsquest Plan”). We expect to contribute approximately £ 4.4 million to the Newsquest Plan throughout the remainder of 2015.

Post-retirement benefits other

Post-retirement benefits other than pension	6 Months Ended
	Jun. 28, 2015
Post-retirement Benefits Other Than Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Post-retirement benefits other than pension	Postretirement benefits other than pension We provide health care and life insurance benefits to certain retired employees who meet age and service requirements. Most of our retirees contribute to the cost of these benefits and retiree contributions are increased as actual benefit costs increase. Certain of our employees also participated in Parent-sponsored postretirement defined benefit plans. Health care and life insurance benefit obligations pursuant to the Parent-sponsored postretirement plans related to our current and former employees were transferred to us at the separation date and, accordingly, have been allocated to us in our unaudited condensed combined financial statements for all periods presented by determining the projected benefit obligation of participants for which the liability was transferred. The cost of providing retiree health care and life insurance benefits is actuarially determined. Our policy is to fund benefits as claims and premiums are paid. In March 2014, Parent adopted changes to the retiree medical plan that were effective July 1, 2014. Beginning on that date, a stipend is paid to certain Medicare-eligible Gannett retirees. As a result of this change, Parent remeasured the related postretirement benefit obligation during the first quarter of 2014 and recorded a reduction to the liability of $ 33.9 million , of which our allocated portion was $ 32.9 million (with a corresponding adjustment to “Accumulated other comprehensive loss”). Our postretirement benefit costs and our allocated portions of Parent-sponsored postretirement plans for health care and life insurance are presented in the following table: In thousands Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Service cost-benefits earned during the period $ 99 $ 63 $ 197 $ 186 Interest cost on net benefit obligation 986 1,016 1,972 2,492 Amortization of prior service credit (2,465 ) (3,055 ) (4,922 ) (5,422 ) Amortization of actuarial loss 394 118 787 326 Net periodic postretirement benefit credit $ (986 ) $ (1,858 ) $ (1,966 ) $ (2,418 )

Income taxes

Income taxes	6 Months Ended
	Jun. 28, 2015
Income Tax Disclosure [Abstract]
Income taxes	Income taxes Our reported effective income tax rate on pre-tax income was 30.2% for the three months ended June 28, 2015, compared to 26.5% for the three months ended June 29, 2014. Our reported effective income tax rate on pre-tax income was 22.0% for the six months ended June 28, 2015, compared to 24.8% for the six months ended June 29, 2014. The tax rate for the six months ended June 28, 2015 was lower than the comparable rate in 2014 due to a one-time tax benefit from a change in accounting method filed with the IRS to amortize previously non-deductible intangible assets. The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was approximately $ 7.6 million as of June 28, 2015 and $ 7.5 million at December 28, 2014. The amount of accrued interest and penalties payable related to unrecognized tax benefits was $ 1.1 million as of June 28, 2015 and December 28, 2014. It is reasonably possible that the amount of unrecognized benefits with respect to certain of our unrecognized tax positions will increase or decrease within the next 12 months. These changes may be the result of settlement of ongoing audits, lapses of statutes of limitations or other regulatory developments. At this time, we estimate the amount of gross unrecognized tax positions may be reduced by up to approximately $ 1.2 million within the next 12 months primarily due to lapses of statutes of limitations and settlement of ongoing audits in various jurisdictions.

Supplemental equity information

Supplemental equity information	6 Months Ended
	Jun. 28, 2015
Equity [Abstract]
Supplemental equity information	Supplemental equity information The following table summarizes equity account activity for the six months ended June 28, 2015 and June 29, 2014: In thousands Balance at Dec. 28, 2014 $ 937,472 Comprehensive income: Net income 86,574 Other comprehensive income 18,932 Total comprehensive income 105,506 Transactions with Parent, net (1,640 ) Balance at June 28, 2015 $ 1,041,338 Balance at Dec. 29, 2013 $ 1,265,221 Comprehensive income: Net income 93,288 Other comprehensive income 37,761 Total comprehensive income 131,049 Transactions with Parent, net (105,904 ) Balance at June 29, 2014 $ 1,290,366 The following table summarizes the components of, and the changes in, “Accumulated other comprehensive loss” (net of tax): In thousands Retirement Plans Foreign Currency Translation Total Three months ended: Balance at March 29, 2015 $ (1,058,800 ) $ 383,707 $ (675,093 ) Other comprehensive (loss) income before reclassifications (18,348 ) 25,568 7,220 Amounts reclassified from accumulated other comprehensive income 8,693 — 8,693 Other comprehensive (loss) income (9,655 ) 25,568 15,913 Balance at June 28, 2015 $ (1,068,455 ) $ 409,275 $ (659,180 ) Balance at March 30, 2014 $ (850,810 ) $ 435,995 $ (414,815 ) Other comprehensive (loss) income before reclassifications (7,469 ) 11,889 4,420 Amounts reclassified from accumulated other comprehensive income 6,175 — 6,175 Other comprehensive (loss) income (1,294 ) 11,889 10,595 Balance at June 29, 2014 $ (852,104 ) $ 447,884 $ (404,220 ) Six months ended: Balance at Dec. 28, 2014 $ (1,082,312 ) $ 404,200 $ (678,112 ) Other comprehensive (loss) income before reclassifications (3,517 ) 5,075 1,558 Amounts reclassified from accumulated other comprehensive income 17,374 — 17,374 Other comprehensive income 13,857 5,075 18,932 Balance at June 28, 2015 $ (1,068,455 ) $ 409,275 $ (659,180 ) Balance at Dec. 29, 2013 $ (873,595 ) $ 431,614 $ (441,981 ) Other comprehensive income before reclassifications 8,861 16,270 25,131 Amounts reclassified from accumulated other comprehensive income 12,630 — 12,630 Other comprehensive income 21,491 16,270 37,761 Balance at June 29, 2014 $ (852,104 ) $ 447,884 $ (404,220 ) Accumulated other comprehensive loss components are included in computing net periodic postretirement costs (see Note 5 — Retirement plans and Note 6 — Post-retirement benefits other than pension for more detail). Reclassifications out of accumulated other comprehensive loss related to these postretirement plans include the following: In thousands Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Amortization of prior service credit, net $ (731 ) $ (1,305 ) $ (1,454 ) $ (1,938 ) Amortization of actuarial loss 14,240 10,723 28,460 21,244 Total reclassifications, before tax 13,509 9,418 27,006 19,306 Income tax effect (4,816 ) (3,243 ) (9,632 ) (6,676 ) Total reclassifications, net of tax $ 8,693 $ 6,175 $ 17,374 $ 12,630

Fair value measurement

Fair value measurement	6 Months Ended
	Jun. 28, 2015
Fair Value Disclosures [Abstract]
Fair value measurement	Fair value measurement We measure and record in the accompanying unaudited condensed combined financial statements certain assets and liabilities at fair value. ASC Topic 820, Fair Value Measurement, establishes a hierarchy for those instruments measured at fair value that distinguishes between market data (observable inputs) and our own assumptions (unobservable inputs). The hierarchy consists of three levels: Level 1 - Quoted market prices in active markets for identical assets or liabilities; Level 2 - Inputs other than Level 1 inputs that are either directly or indirectly observable; and Level 3 - Unobservable inputs developed using our own estimates and assumptions, which reflect those that a market participant would use. As of June 28, 2015 and December 28, 2014 assets held at fair value measured on a recurring basis primarily consist of pension plan assets. We also have certain assets that are held for sale that require fair value measurement on a non-recurring basis. Assets held for sale, which are classified as Level 3 assets, total $ 23.6 million as of June 28, 2015 and $18.4 million as of December 28, 2014. Information regarding the valuation techniques for these assets is discussed in Note 3 — Facility consolidation and asset impairment charges.

Commitments, contingencies and

Commitments, contingencies and other matters	6 Months Ended
	Jun. 28, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments, contingencies and other matters	Commitments, contingencies and other matters We, along with a number of our subsidiaries, are defendants in judicial and administrative proceedings involving matters incidental to our business. Management believes any liability that exists as a result of these matters is immaterial.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 28, 2015
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic earnings per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding. Diluted earnings per share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of shares under equity-based compensation plans except where the inclusion of such shares would have an anti-dilutive impact. On June 29, 2015, Parent distributed 98.5% of our total shares and retained the remaining 1.5% . The total shares outstanding at that date was 115.0 million. The total number of shares outstanding at that date is being utilized for the calculation of both basic and diluted earnings per share for the three and six months ended June 28, 2015 and June 29, 2014, as no equity-based awards were outstanding prior to June 29, 2015. For the three and six months ended June 28, 2015 and June 29, 2014, basic and diluted earnings per share were as follows: In thousands, except per share data Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Net income $ 53,327 $ 52,109 $ 86,574 $ 93,288 Weighted average number of shares outstanding - basic and diluted 114,959 114,959 114,959 114,959 Earnings per share - basic and diluted $ 0.46 $ 0.45 $ 0.75 $ 0.81

Related party transactions with

Related party transactions with affiliates	6 Months Ended
	Jun. 28, 2015
Related Party Transactions [Abstract]
Related party transactions with affiliates	Related party transactions with affiliates The following is a discussion of our relationship with Parent prior to the separation and distribution, including the services provided by both parties and how transactions with Parent and its affiliates through June 28, 2015 were accounted for in the unaudited condensed combined financial statements. Equity Equity in the Unaudited Condensed Combined Balance Sheets includes the accumulated balance of transactions between us and Parent, our paid-in-capital and Parent’s interest in our cumulative retained earnings, which are presented within “Parent’s investment, net” and combined with “Accumulated other comprehensive loss” as the two components of equity. The amounts comprising the accumulated balance of transactions between us, Parent and its affiliates include (i) the cumulative net assets attributed to us by Parent and its affiliates, (ii) the cumulative net advances to Parent representing our cumulative funds swept (net of funding provided by Parent and its affiliates to us) as part of the centralized cash management program described further below and (iii) the cumulative charges (net of credits) allocated by Parent and its affiliates to us for certain support services received by us. Centralized cash management Prior to the separation and distribution, Parent utilized a centralized approach to cash management and the financing of its operations, providing funds to its entities as needed. These transactions were recorded in “Parent’s investment, net” when advanced. Accordingly, none of Parent’s cash and cash equivalents were assigned to us in the unaudited condensed combined financial statements. “Cash and cash equivalents” in our Unaudited Condensed Combined Balance Sheets represent cash held by us. Included in “Cash and cash equivalents” as of December 28, 2014 were investments in commercial paper of Parent totaling $63.9 million . These investments matured during the period and are now cash held by us as of June 28, 2015. Interest income recorded on these related party investments, recorded within “Other non-operating items, net” was $0.3 million for the six months ended June 28, 2015 and $ 0.9 million for the six months ended June 28, 2014. Support services provided and other amounts with Parent and Parent affiliates We received allocated charges from Parent and its affiliates for certain corporate support services, which are recorded within “Selling, general and administrative expense” in our Unaudited Condensed Combined Statements of Income, net of cost recoveries reflecting services provided by us and allocated to Parent. Management believes that the bases used for the allocations are reasonable and reflect the portion of such costs, net of cost recoveries, attributable to our operations; however, the amounts may not be representative of the costs necessary for us to operate as a separate stand-alone company. These allocated costs, net of cost recoveries, are summarized in the following table: In thousands Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Corporate allocations (a) $ 13,199 $ 14,882 $ 25,832 $ 29,306 Occupancy (b) 1,470 1,552 2,884 3,062 Depreciation (c) 2,208 2,185 4,067 4,407 Other support costs (d) 2,591 3,936 6,249 7,872 Cost recoveries (e) (3,404 ) (2,290 ) (6,055 ) (4,598 ) Total $ 16,064 $ 20,265 $ 32,977 $ 40,049 (a) The corporate allocations related to support we received from Parent and its affiliates for certain corporate activities include: (i) corporate general and administrative expenses, (ii) marketing services, (iii) investor relations, (iv) legal, (v) human resources, (vi) internal audit, (vii) financial reporting, (viii) tax, (ix) treasury, (x) information technology, (xi) production services, (xii) travel services, and (xiii) other Parent corporate and infrastructure costs. For these services, we recorded an allocation of a management fee based on actual costs incurred by Parent and its affiliates. This was allocated to us based upon our revenue as a percentage of total Parent revenue in each fiscal period. (b) Occupancy costs relate to certain facilities owned and/or leased by Parent and its affiliates that were utilized by our employees and principally relate to shared corporate office space. These costs were charged to us primarily based on actual square footage utilized or our revenue as a percentage of total Parent revenue in each fiscal period. Occupancy costs include facility rent, repair and maintenance, security and other occupancy related costs incurred to manage the properties. (c) Depreciation expense was allocated by Parent and its affiliates for certain assets. These assets primarily relate to facilities and IT equipment that are utilized by Parent and us to operate our businesses. These assets have not been included in our Unaudited Condensed Combined Balance Sheets. Depreciation expense was allocated primarily based on our revenue as a percentage of total Parent revenue or our utilization of these assets. (d) Other support costs related to charges to us from Parent and its affiliates include certain insurance costs and our allocated portions of share-based compensation costs and net periodic pension costs relating to the Gannett Supplemental Retirement Plan (“SERP”) for employees of Parent. Such costs were allocated based on actual costs incurred or our revenue as a percentage of total Parent revenue. (e) Cost recoveries reflect costs recovered from Parent and Parent affiliates for functions provided by us such as functions that serve Parent’s digital and broadcasting platforms for content optimization and financial transaction processing at shared service centers. Such costs were primarily allocated based on our revenue as a percentage of total Parent revenue or based upon transactional volume in each fiscal year. Defined contribution plans Our employees historically participated in various Parent qualified 401(k) savings plans, permitting eligible employees to make voluntary contributions on a pre-tax basis up to 50% of compensation subject to certain limits. Substantially all of our employees (other than those covered by certain collective bargaining agreements) scheduled to work at least 1000 hours during each year of employment were eligible to participate. The plans allowed participants to invest their savings in various investments. For most participants, the plan’s matching formula was 100% of the first 5% of employee contributions. Parent settled the 401(k) employee match obligation by buying Parent stock in the open market and depositing it in the participants’ accounts. Parent also made additional employer contributions on behalf of certain long-term employees. Amounts charged to expense by us for employer contributions to Parent 401(k) savings plans totaled $6.9 million in the three months ended June 28, 2015 and $7.4 million in the three months ended June 29, 2014. Amounts charged to expense by us for employer contributions to Parent 401(k) savings plans totaled $14.7 million for the six months ended June 28, 2015 and $15.9 million for the six months ended June 29, 2014. These amounts are recorded in “Cost of sales and operating expenses” and “Selling, general and administrative expenses” as appropriate, in the Unaudited Condensed Combined Statements of Income. Revenue and other transactions entered into in the ordinary course of business Certain of our revenue arrangements relate to contracts entered into in the ordinary course of business with Parent and its affiliates, principally Cars.com, CareerBuilder and G/O Digital.

Subsequent events

Subsequent events	6 Months Ended
	Jun. 28, 2015
Subsequent Events [Abstract]
Subsequent events	Subsequent events Separation from Parent On June 29, 2015, Parent completed the separation through a pro rata distribution to Parent’s stockholders of 98.5% of the outstanding shares of our common stock. Each holder of Parent common stock received one share of our common stock for every two shares of Parent common stock held on June 22, 2015, the record date for the distribution. Following the distribution, Parent owns shares representing 1.5% of our outstanding common shares. Parent will continue to own our shares for a period of time not to exceed five years after the distribution. Parent structured the distribution to be tax free to its U.S. shareholders for U.S. federal income tax purposes. In connection with the separation and distribution, we entered into a transition services agreement with Parent, pursuant to which we and Parent will provide to each other certain specified services on a transitional basis, including various information technology, financial and administrative services. The charges for the transition services generally are expected to allow the providing entity to fully recover all out-of-pocket costs and expenses it actually incurs in connection with providing the service plus, in some cases, the allocated indirect costs of providing the services, generally without profit. Prior to the separation and distribution, we established the Gannett Co., Inc. 2015 Omnibus Incentive Compensation Plan (the “Omnibus Plan”) to facilitate equity-based incentives for our employees. At the time of the distribution, we issued equity awards under the Omnibus Plan as a result of the conversion of certain outstanding share-based awards previously granted by Parent (including certain restricted stock unit, performance share and stock option awards) into awards denominated in our shares in accordance with the terms of the separation and distribution agreement and employee matters agreement we entered into with Parent. Revolving credit facility On June 29, 2015, we entered into a new five -year secured revolving credit facility in an aggregate principal amount of $500 million (“Credit Facility”). Under the Credit Facility, we may borrow at an applicable margin above the Eurodollar base rate (“LIBOR loan”) or the higher of the Prime Rate, the Federal Funds Effective Rate plus 0.50% , or the one month LIBOR rate plus 1.00% (“ABR loan”). The applicable margin is determined based on our total leverage ratio but differs between LIBOR loans and ABR loans. For LIBOR-based borrowing, the margin varies from 2.00% to 2.50% . For ABR-based borrowing, the margin will vary from 1.00% to 1.50% . Customary fees are payable in respect of the Credit Facility, including commitment fees on the undrawn commitments of between 0.30% and 0.40% per annum, payable quarterly in arrears, based on our total leverage ratio. Borrowings under the Credit Facility are guaranteed by a majority of our wholly-owned material domestic subsidiaries. All obligations of Gannett and each subsidiary guarantor under the Credit Facility are or will be secured by first priority security interests in our equipment, inventory, accounts receivable, fixtures, general intangibles and other personal property, mortgages on certain material real property and pledges of the capital stock of each subsidiary guarantor. Pursuant to the Credit Facility, we are obligated, on or after September 30, 2015, to not permit our consolidated interest coverage ratio to be less than 3.00 :1.00 and our total leverage ratio to exceed 3.00 :1.00, in each case as of the last day of the test period consisting of four consecutive fiscal quarters. The Credit Facility also contains a number of covenants that, among other things, limit or restrict our ability, subject to certain exceptions described in the Credit Facility, to (i) permit certain liens on current or future assets; (ii) enter into certain corporate transactions; (iii) incur additional indebtedness; (iv) make certain payments or declare certain dividends or distributions; (v) dispose of certain property; (vi) make certain investments; (vii) prepay or amend the terms of other indebtedness; or (viii) enter into certain transactions with our affiliates.

Basis of presentation and sum20

Basis of presentation and summary of significant accounting policies (Policies)	6 Months Ended
	Jun. 28, 2015
Basis of Presentation and Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation: Historically, we have not prepared separate financial statements. The accompanying unaudited condensed combined financial statements are derived from the condensed consolidated financial statements and accounting records of Parent and present our combined financial position, results of operations and cash flows as of and for the periods presented as if we were a separate entity. These unaudited condensed combined financial statements are presented in accordance with generally accepted accounting principles (“GAAP”). In preparing these unaudited condensed combined financial statements, management has made certain assumptions or implemented methodologies to allocate various expenses from Parent to us and from us back to Parent in the form of cost recoveries. These allocations represent services provided between the two entities and are more fully detailed in Note 12 — Related party transactions with affiliates. All such costs and expenses are assumed to be settled with Parent through “Parent’s investment, net” in the period in which the costs were incurred. Current income taxes are also assumed to be settled with Parent through “Parent’s investment, net” and settlement is deemed to occur in the year following recognition in the current income tax provision. We believe the assumptions and methodologies used in these allocations are reasonable; however, such allocated costs, net of cost recoveries, may not be indicative of the actual level of expense that would have been incurred had we been operating on a stand-alone basis. Accordingly, these unaudited condensed combined financial statements may not necessarily reflect our combined financial position, results of operations and cash flows had we operated as a stand-alone entity during the period presented. All of our internal intercompany accounts have been eliminated in combination. All significant intercompany transactions between either (i) us and Parent or (ii) us and Parent affiliates have been included within the unaudited condensed combined financial statements and are considered to be effectively settled through equity contributions or distributions at the time the transactions were recorded. The accumulated net effect of intercompany transactions between either (i) us and Parent or (ii) us and Parent affiliates are included in “Parent’s investment, net.” These intercompany transactions are further described in Note 12 — Related party transactions with affiliates. The total net effect of these intercompany transactions is reflected in the Unaudited Condensed Combined Statements of Cash Flows as financing activities. Our accompanying unaudited condensed combined financial statements have been prepared in accordance with the instructions for Form 10-Q and therefore do not include all information and footnotes which are normally included in a Form 10-K and annual report to shareholders. These unaudited condensed combined financial statements should be read in conjunction with the combined financial statements and combined notes thereto included in our Registration Statement on Form 10, as amended. In our opinion, the financial statements reflect all adjustments of a normal recurring nature necessary for a fair presentation of results for the interim periods presented.
Business Combinations	Business combinations: We allocate the fair value of purchase consideration to the tangible assets acquired, liabilities assumed and intangible assets acquired based on their estimated fair values. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair value of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to intangible assets. Critical estimates in valuing certain identifiable assets include but are not limited to expected long-term revenues; future expected operating expenses; cost of capital and appropriate discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates.
New Accounting Standards	Recent accounting standards: In July 2015, the Financial Accounting Standards Board (“FASB”) delayed the effective date for Accounting Standards Update (“ASU”) 2014-09 Revenue from Contracts with Customers (“Topic 606”). The core principle contemplated by ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. We are required to adopt the standard in the first quarter of 2018 and retroactively apply it to our 2016 and 2017 financial results at the time of adoption. Under the new rules, we are permitted to adopt the new standard in 2017. We can also choose to apply the standard using either the full retrospective approach or a modified retrospective approach, which recognizes a cumulative catch up adjustment to the opening balance of retained earnings. We are currently assessing the impact and timing of adopting this pronouncement and the transition method we will use.

Acquisitions and dispositions (

Acquisitions and dispositions (Tables)	6 Months Ended
	Jun. 28, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	At the acquisition date, the purchase price assigned to the acquired assets and assumed liabilities is summarized as follows: In thousands Current assets $ 12,310 Property, plant and equipment 20,792 Intangible assets 28,440 Goodwill 28,250 Total assets acquired 89,792 Current liabilities 10,860 Noncurrent liabilities 11,878 Total liabilities assumed 22,738 Net assets acquired $ 67,054

Goodwill and other intangible22

Goodwill and other intangible assets (Tables)	6 Months Ended
	Jun. 28, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The following table displays information on our goodwill, indefinite-lived intangible assets and amortizable intangible assets: In thousands June 28, 2015 Dec. 28, 2014 Gross Accumulated Amortization Gross Accumulated Amortization Goodwill $ 585,058 $ — $ 544,345 $ — Indefinite-lived intangibles: Mastheads and trade names 31,398 — 13,469 — Amortizable intangible assets: Customer relationships 197,600 (147,003 ) 173,822 (140,720 ) Other 14,279 (11,625 ) 14,279 (10,735 )
Changes in the Company's net goodwill	The following table summarizes the changes in our net goodwill balance through June 28, 2015: In thousands Balance at Dec. 28, 2014: Goodwill $ 7,358,420 Accumulated impairment losses (6,814,075 ) Net balance at Dec. 28, 2014 544,345 Activity during the period: Acquisitions (see Note 2) 38,510 Foreign currency exchange rate changes 2,203 Total 40,713 Balance at June 28, 2015: Goodwill 7,423,488 Accumulated impairment losses (6,838,430 ) Net balance at June 28, 2015 $ 585,058

Retirement plans (Tables)

Retirement plans (Tables)	6 Months Ended
	Jun. 28, 2015
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit costs	Our retirement plan costs include costs for all of our qualified plans and our allocated portions of Parent-sponsored qualified and non-qualified plans and are presented in the following table: In thousands Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Service cost-benefits earned during the period $ 1,107 $ 693 $ 2,209 $ 2,302 Interest cost on benefit obligation 32,810 36,488 65,486 72,977 Expected return on plan assets (48,755 ) (51,977 ) (97,326 ) (103,399 ) Amortization of prior service cost 1,734 1,750 3,468 3,484 Amortization of actuarial loss 13,846 10,605 27,673 20,918 Expense (credit) for retirement plans $ 742 $ (2,441 ) $ 1,510 $ (3,718 )

Post-retirement benefits othe24

Post-retirement benefits other than pension (Tables)	6 Months Ended
	Jun. 28, 2015
Post-retirement Benefits Other Than Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Postretirement benefit costs for health care and life insurance	Our postretirement benefit costs and our allocated portions of Parent-sponsored postretirement plans for health care and life insurance are presented in the following table: In thousands Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Service cost-benefits earned during the period $ 99 $ 63 $ 197 $ 186 Interest cost on net benefit obligation 986 1,016 1,972 2,492 Amortization of prior service credit (2,465 ) (3,055 ) (4,922 ) (5,422 ) Amortization of actuarial loss 394 118 787 326 Net periodic postretirement benefit credit $ (986 ) $ (1,858 ) $ (1,966 ) $ (2,418 )

Supplemental equity informati25

Supplemental equity information (Tables)	6 Months Ended
	Jun. 28, 2015
Equity [Abstract]
Schedule of Equity	The following table summarizes equity account activity for the six months ended June 28, 2015 and June 29, 2014: In thousands Balance at Dec. 28, 2014 $ 937,472 Comprehensive income: Net income 86,574 Other comprehensive income 18,932 Total comprehensive income 105,506 Transactions with Parent, net (1,640 ) Balance at June 28, 2015 $ 1,041,338 Balance at Dec. 29, 2013 $ 1,265,221 Comprehensive income: Net income 93,288 Other comprehensive income 37,761 Total comprehensive income 131,049 Transactions with Parent, net (105,904 ) Balance at June 29, 2014 $ 1,290,366
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the components of, and the changes in, “Accumulated other comprehensive loss” (net of tax): In thousands Retirement Plans Foreign Currency Translation Total Three months ended: Balance at March 29, 2015 $ (1,058,800 ) $ 383,707 $ (675,093 ) Other comprehensive (loss) income before reclassifications (18,348 ) 25,568 7,220 Amounts reclassified from accumulated other comprehensive income 8,693 — 8,693 Other comprehensive (loss) income (9,655 ) 25,568 15,913 Balance at June 28, 2015 $ (1,068,455 ) $ 409,275 $ (659,180 ) Balance at March 30, 2014 $ (850,810 ) $ 435,995 $ (414,815 ) Other comprehensive (loss) income before reclassifications (7,469 ) 11,889 4,420 Amounts reclassified from accumulated other comprehensive income 6,175 — 6,175 Other comprehensive (loss) income (1,294 ) 11,889 10,595 Balance at June 29, 2014 $ (852,104 ) $ 447,884 $ (404,220 ) Six months ended: Balance at Dec. 28, 2014 $ (1,082,312 ) $ 404,200 $ (678,112 ) Other comprehensive (loss) income before reclassifications (3,517 ) 5,075 1,558 Amounts reclassified from accumulated other comprehensive income 17,374 — 17,374 Other comprehensive income 13,857 5,075 18,932 Balance at June 28, 2015 $ (1,068,455 ) $ 409,275 $ (659,180 ) Balance at Dec. 29, 2013 $ (873,595 ) $ 431,614 $ (441,981 ) Other comprehensive income before reclassifications 8,861 16,270 25,131 Amounts reclassified from accumulated other comprehensive income 12,630 — 12,630 Other comprehensive income 21,491 16,270 37,761 Balance at June 29, 2014 $ (852,104 ) $ 447,884 $ (404,220 )
Reclassification out of Accumulated Other Comprehensive Income	Reclassifications out of accumulated other comprehensive loss related to these postretirement plans include the following: In thousands Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Amortization of prior service credit, net $ (731 ) $ (1,305 ) $ (1,454 ) $ (1,938 ) Amortization of actuarial loss 14,240 10,723 28,460 21,244 Total reclassifications, before tax 13,509 9,418 27,006 19,306 Income tax effect (4,816 ) (3,243 ) (9,632 ) (6,676 ) Total reclassifications, net of tax $ 8,693 $ 6,175 $ 17,374 $ 12,630

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 28, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	For the three and six months ended June 28, 2015 and June 29, 2014, basic and diluted earnings per share were as follows: In thousands, except per share data Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Net income $ 53,327 $ 52,109 $ 86,574 $ 93,288 Weighted average number of shares outstanding - basic and diluted 114,959 114,959 114,959 114,959 Earnings per share - basic and diluted $ 0.46 $ 0.45 $ 0.75 $ 0.81

Related party transactions wi27

Related party transactions with affiliates (Tables)	6 Months Ended
	Jun. 28, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	These allocated costs, net of cost recoveries, are summarized in the following table: In thousands Three months ended Six months ended June 28, 2015 June 29, 2014 June 28, 2015 June 29, 2014 Corporate allocations (a) $ 13,199 $ 14,882 $ 25,832 $ 29,306 Occupancy (b) 1,470 1,552 2,884 3,062 Depreciation (c) 2,208 2,185 4,067 4,407 Other support costs (d) 2,591 3,936 6,249 7,872 Cost recoveries (e) (3,404 ) (2,290 ) (6,055 ) (4,598 ) Total $ 16,064 $ 20,265 $ 32,977 $ 40,049 (a) The corporate allocations related to support we received from Parent and its affiliates for certain corporate activities include: (i) corporate general and administrative expenses, (ii) marketing services, (iii) investor relations, (iv) legal, (v) human resources, (vi) internal audit, (vii) financial reporting, (viii) tax, (ix) treasury, (x) information technology, (xi) production services, (xii) travel services, and (xiii) other Parent corporate and infrastructure costs. For these services, we recorded an allocation of a management fee based on actual costs incurred by Parent and its affiliates. This was allocated to us based upon our revenue as a percentage of total Parent revenue in each fiscal period. (b) Occupancy costs relate to certain facilities owned and/or leased by Parent and its affiliates that were utilized by our employees and principally relate to shared corporate office space. These costs were charged to us primarily based on actual square footage utilized or our revenue as a percentage of total Parent revenue in each fiscal period. Occupancy costs include facility rent, repair and maintenance, security and other occupancy related costs incurred to manage the properties. (c) Depreciation expense was allocated by Parent and its affiliates for certain assets. These assets primarily relate to facilities and IT equipment that are utilized by Parent and us to operate our businesses. These assets have not been included in our Unaudited Condensed Combined Balance Sheets. Depreciation expense was allocated primarily based on our revenue as a percentage of total Parent revenue or our utilization of these assets. (d) Other support costs related to charges to us from Parent and its affiliates include certain insurance costs and our allocated portions of share-based compensation costs and net periodic pension costs relating to the Gannett Supplemental Retirement Plan (“SERP”) for employees of Parent. Such costs were allocated based on actual costs incurred or our revenue as a percentage of total Parent revenue. (e) Cost recoveries reflect costs recovered from Parent and Parent affiliates for functions provided by us such as functions that serve Parent’s digital and broadcasting platforms for content optimization and financial transaction processing at shared service centers. Such costs were primarily allocated based on our revenue as a percentage of total Parent revenue or based upon transactional volume in each fiscal year.

Basis of presentation and sum28

Basis of presentation and summary of significant accounting policies (Details)	Jun. 29, 2015	Jun. 28, 2015publication
U.S and U.K. [Member]
Significant Accounting Policies [Line Items]
Number of daily publications		112
U.S. [Member]
Significant Accounting Policies [Line Items]
Number of daily publications		93
Number of non-daily publications, more than		400
U.K. [Member]
Significant Accounting Policies [Line Items]
Number of non-daily publications, more than		140
Subsequent Event [Member]
Significant Accounting Policies [Line Items]
Pro rata distribution to Parents' stockholders (as a percent)	98.50%
Conversion ratio for every share of parent company common stock owned by stockholders	0.5
Shares held by Parent after distribution (as a percent)	1.50%
Parent to own shares for period, not to exceed	5 years

Acquisitions and dispositions -

Acquisitions and dispositions - Narrative (Details) $ in Thousands	Jun. 01, 2015USD ($)	May. 26, 2015USD ($)publication	Jun. 28, 2015USD ($)	Jun. 28, 2015USD ($)	Jun. 29, 2014USD ($)
Business Acquisition [Line Items]
Payments for acquisitions, net of cash acquired				$ 28,668	$ 0
Net gain recognized on acquisition				$ 21,799	$ 0
Romanes Media Group [Member]
Business Acquisition [Line Items]
Number of daily publications | publication		1
Number of weekly publications | publication		28
Texas-New Mexico Newspapers Partnership (TNP) [Member]
Business Acquisition [Line Items]
Interest acquired (as a percent)	59.40%
Payments for acquisitions, net of cash acquired	$ 5,200
Ownership interests held prior to acquisition date (as a percent)	40.60%
Ownership interests in acquired company (as a percent)	100.00%
Fair value of interests on acquisition date	$ 26,600
Net gain recognized on acquisition	$ 21,800
Impact of acquisition on earnings, revenue			$ 6,500
California Newspapers Partnership (CNP) [Member]
Business Acquisition [Line Items]
Assignment of interest for acquisition (as a percent)	19.50%
Fair value of ownership interest assigned	$ 34,400
Newsquest [Member] | Romanes Media Group [Member]
Business Acquisition [Line Items]
Interest acquired (as a percent)		100.00%
Payments for acquisitions, net of cash acquired		$ 23,500

Acquisitions and dispositions30

Acquisitions and dispositions - Schedule of Assets Acquired, Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 28, 2015	Jun. 01, 2015	Dec. 28, 2014
Business Acquisition [Line Items]
Goodwill	$ 585,058		$ 544,345
Texas-New Mexico Newspapers Partnership (TNP) [Member]
Business Acquisition [Line Items]
Current assets		$ 12,310
Property, plant and equipment		20,792
Intangible assets		28,440
Goodwill		28,250
Total assets acquired		89,792
Current liabilities		10,860
Noncurrent liabilities		11,878
Total liabilities assumed		22,738
Net assets acquired		$ 67,054

Facility consolidation and as31

Facility consolidation and asset impairment charges - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Property, plant and equipment and other [Member]
Facility consolidation and asset impairment charges (Textual) [Abstract]
Asset impairment and other charges, pre-tax amount	$ 5.1	$ 9.5	$ 6.6	$ 19

Goodwill and other intangible32

Goodwill and other intangible assets - Intangibles and Goodwill (Details) - USD ($) $ in Thousands	Jun. 28, 2015	Dec. 28, 2014
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill	$ 585,058	$ 544,345
Customer Relationships [Member]
Goodwill and Intangible Assets Disclosure [Line Items]
Finite-lived intangibles, Gross	197,600	173,822
Finite-lived Intangibles, Accumulated Amortization	(147,003)	(140,720)
Other [Member]
Goodwill and Intangible Assets Disclosure [Line Items]
Finite-lived intangibles, Gross	14,279	14,279
Finite-lived Intangibles, Accumulated Amortization	(11,625)	(10,735)
Mastheads and trade names [Member]
Goodwill and Intangible Assets Disclosure [Line Items]
Indefinite-lived intangibles, Gross	31,398	13,469
Goodwill [Member]
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill	$ 585,058	$ 544,345

Goodwill and other intangible33

Goodwill and other intangible assets - Changes in Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 28, 2015USD ($)
Changes in the Company's net goodwill
Beginning balance	$ 544,345
Ending balance	585,058
Publishing [Member]
Changes in the Company's net goodwill
Goodwill before accumulated impairment losses beginning balance	7,358,420
Accumulated impairment losses beginning balance	(6,814,075)
Beginning balance	544,345
Acquisitions and adjustments	38,510
Foreign currency exchange rate changes	2,203
Total	40,713
Goodwill before accumulated impairment losses beginning balance	7,423,488
Accumulated impairment losses ending balance	(6,838,430)
Ending balance	$ 585,058

Retirement plans - Retirement P

Retirement plans - Retirement Plan Costs (Details) - Pension Plans [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Company's pension costs
Service cost-benefits earned during the period	$ 1,107	$ 693	$ 2,209	$ 2,302
Interest cost on benefit obligation	32,810	36,488	65,486	72,977
Expected return on plan assets	(48,755)	(51,977)	(97,326)	(103,399)
Amortization of prior service cost	1,734	1,750	3,468	3,484
Amortization of actuarial loss	13,846	10,605	27,673	20,918
Expense (credit) for retirement plans	$ 742	$ (2,441)	$ 1,510	$ (3,718)

Retirement plans - Narrative (D

Retirement plans - Narrative (Details) - Pension Plans [Member] £ in Millions, $ in Millions	6 Months Ended
	Jun. 28, 2015GBP (£)	Jun. 28, 2015USD ($)	Dec. 28, 2014USD ($)
Gannett Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			$ 2,000
Plan assets allocated from Parent			$ 1,800
Allocated contributions from Parent		$ 104.7
Estimated future contributions through 2020		25
Estimated future contributions in 2021		15
Newsquest Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Contribution to the defined benefit plans	£ 3.8	5.8
Estimated future employer contributions remainder of 2015 | £	£ 4.4
Parent [Member] | Gannett Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Contribution to the defined benefit plans		$ 112

Post-retirement benefits othe36

Post-retirement benefits other than pension - Post-Retirement Benefit Costs(Details) - Post-retirement Benefits Other Than Pension [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Postretirement benefit costs for health care and life insurance
Service cost-benefits earned during the period	$ 99	$ 63	$ 197	$ 186
Interest cost on net benefit obligation	986	1,016	1,972	2,492
Amortization of prior service credit	(2,465)	(3,055)	(4,922)	(5,422)
Amortization of actuarial loss	394	118	787	326
Expense (credit) for retirement plans	$ (986)	$ (1,858)	$ (1,966)	$ (2,418)

Post-retirement benefits othe37

Post-retirement benefits other than pension - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Mar. 30, 2014	Jun. 28, 2015	Jun. 29, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Remeasurement of postretirement benefits liability	$ 0	$ 0		$ 0	$ 32,887
Post-retirement Benefits Other Than Pension [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Remeasurement of postretirement benefits liability			$ 33,900
Allocated remeasurement of post-retirement benefits liability			$ 32,900

Income taxes - Narrative (Detai

Income taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014	Dec. 28, 2014
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent	30.20%	26.50%	22.00%	24.80%
Unrecognized tax benefits that, if recognized, would impact effective tax rate	$ 7.6		$ 7.6		$ 7.5
Accrued interest and penalties payable related to unrecognized tax benefits	1.1		1.1		$ 1.1
Estimated decrease in gross unrecognized tax positions within the next 12 months, maximum	$ 1.2		$ 1.2

Supplemental equity informati39

Supplemental equity information - Equity Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance			$ 937,472	$ 1,265,221
Comprehensive income:
Net income	$ 53,327	$ 52,109	86,574	93,288
Other comprehensive (loss) income	15,913	10,595	18,932	37,761
Total comprehensive income	69,240	62,704	105,506	131,049
Transactions with Parent, net			(1,640)	(105,904)
Ending Balance	$ 1,041,338	$ 1,290,366	$ 1,041,338	$ 1,290,366

Supplemental equity informati40

Supplemental equity information - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ (675,093)	$ (414,815)	$ (678,112)	$ (441,981)
Other comprehensive (loss) income before reclassifications	7,220	4,420	1,558	25,131
Amounts reclassified from accumulated other comprehensive income	8,693	6,175	17,374	12,630
Other comprehensive income, net of tax	15,913	10,595	18,932	37,761
Ending Balance	(659,180)	(404,220)	(659,180)	(404,220)
Retirement Plans [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(1,058,800)	(850,810)	(1,082,312)	(873,595)
Other comprehensive (loss) income before reclassifications	(18,348)	(7,469)	(3,517)	8,861
Amounts reclassified from accumulated other comprehensive income	8,693	6,175	17,374	12,630
Other comprehensive income, net of tax	(9,655)	(1,294)	13,857	21,491
Ending Balance	(1,068,455)	(852,104)	(1,068,455)	(852,104)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	383,707	435,995	404,200	431,614
Other comprehensive (loss) income before reclassifications	25,568	11,889	5,075	16,270
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Other comprehensive income, net of tax	25,568	11,889	5,075	16,270
Ending Balance	$ 409,275	$ 447,884	$ 409,275	$ 447,884

Supplemental equity informati41

Supplemental equity information - Reclassifications Out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credit, net	$ (731)	$ (1,305)	$ (1,454)	$ (1,938)
Amortization of actuarial loss	14,240	10,723	28,460	21,244
Total reclassifications, net of tax	8,693	6,175	17,374	12,630
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, net of tax	8,693	6,175	17,374	12,630
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credit, net	(731)	(1,305)	(1,454)	(1,938)
Amortization of actuarial loss	14,240	10,723	28,460	21,244
Total reclassifications, before tax	13,509	9,418	27,006	19,306
Income tax effect	$ (4,816)	$ (3,243)	$ (9,632)	$ (6,676)

Fair value measurement - Narrat

Fair value measurement - Narrative (Details) - USD ($) $ in Thousands	Jun. 28, 2015	Dec. 28, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 23,566	$ 18,434
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 23,600	$ 18,400

Earnings per share - Narrative

Earnings per share - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014	Jun. 29, 2015
Subsequent Event [Line Items]
Common stock, shares, outstanding	0		0
Net income	$ 53,327	$ 52,109	$ 86,574	$ 93,288
Weighted average number of shares outstanding - basic and diluted	114,959,000	114,959,000	114,959,000	114,959,000
Earnings per share – basic and diluted (in dollars per share)	$ 0.46	$ 0.45	$ 0.75	$ 0.81
Subsequent Event [Member]
Subsequent Event [Line Items]
Percentage of shares distributed by parent (as a percent)					98.50%
Shares retained by parent (as a percent)					1.50%
Common stock, shares, outstanding					115,000,000

Related party transactions wi44

Related party transactions with affiliates - Allocated Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014
Related Party Transaction [Line Items]
Corporate allocations	$ 176,884	$ 182,105	$ 355,213	$ 370,470
Depreciation	23,958	24,403	48,386	48,842
Parent [Member]
Related Party Transaction [Line Items]
Corporate allocations	13,199	14,882	25,832	29,306
Occupancy	1,470	1,552	2,884	3,062
Depreciation	2,208	2,185	4,067	4,407
Other support costs	2,591	3,936	6,249	7,872
Cost recoveries	(3,404)	(2,290)	(6,055)	(4,598)
Total	$ 16,064	$ 20,265	$ 32,977	$ 40,049

Related party transactions wi45

Related party transactions with affiliates - Narrative (Details) - Parent [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2015	Jun. 29, 2014	Jun. 28, 2015	Jun. 29, 2014	Dec. 28, 2014
Related Party Transaction [Line Items]
Investment in commercial paper of Parent					$ 63.9
401 (k) Maximum employee contribution (as a percent of employee compensation)			50.00%
Minimum number of employee working hours required to be eligible to participate in 401(k) plan			1000 hours
Employer 401(k) matching contribution (as a percent)			100.00%
Maximum employee contributions subject to employer match (as a percent)			5.00%
Expense for employer contributions to Parent 401(k) plan	$ 6.9	$ 7.4	$ 14.7	$ 15.9
Commercial Paper [Member]
Related Party Transaction [Line Items]
Interest income on related party investments			$ 0.3	$ 0.9

Subsequent events - Narrative (

Subsequent events - Narrative (Details)	Jun. 29, 2015USD ($)	Jun. 01, 2015
Subsequent Event [Member]
Subsequent Event [Line Items]
Pro rata distribution to Parents' stockholders (as a percent)	98.50%
Conversion ratio for every share of parent company common stock owned by stockholders	0.5
Shares held by Parent after distribution (as a percent)	1.50%
Parent to own shares for period, not to exceed	5 years
Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member]
Subsequent Event [Line Items]
Revolving credit facility term	5 years
Maximum borrowing capacity	$ 500,000,000
Consolidated interest coverage ratio, not to be less than		3
Total leverage ratio, not to exceed		3
Federal Funds Rate [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis point spread on variable rate (as a percent)	0.50%
LIBOR [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis point spread on variable rate (as a percent)	1.00%
Minimum [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Commitment fee on undrawn commitments (as a percent)	0.30%
Minimum [Member] | LIBOR [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis point spread on variable rate (as a percent)	2.00%
Minimum [Member] | ABR [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis point spread on variable rate (as a percent)	1.00%
Maximum [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Commitment fee on undrawn commitments (as a percent)	0.40%
Maximum [Member] | LIBOR [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis point spread on variable rate (as a percent)	2.50%
Maximum [Member] | ABR [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Credit Facility [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Basis point spread on variable rate (as a percent)	1.50%