Gannett 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 04, 2018
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	Mar. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock Shares Outstanding		112,930,038
Trading Symbol	GCI

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 145,859	$ 120,589
Accounts receivable, net of allowance for doubtful accounts of $11,388 and $11,588	317,295	352,546
Other current assets	126,298	116,713
Total current assets	589,452	589,848
Property, plant and equipment, at cost net of accumulated depreciation of $1,440,816 and $1,429,515	907,217	933,334
Goodwill	744,090	737,716
Intangible assets, net	132,365	139,654
Deferred income taxes	96,889	102,492
Investments and other assets	62,366	66,933
Total assets	2,532,379	2,569,977
Current liabilities
Accounts payable and accrued liabilities	371,680	387,406
Deferred income	134,633	122,791
Total current liabilities	506,313	510,197
Postretirement medical and life insurance liabilities	80,930	83,344
Pension liabilities	396,854	421,876
Long-term portion of revolving credit facility	305,000	355,000
Other noncurrent liabilities	224,830	182,165
Total liabilities	1,513,927	1,552,582
Equity
Preferred stock of $0.01 par value per share, 5,000,000 shares authorized, none issued	0	0
Common stock of $0.01 par value per share, 500,000,000 shares authorized, 118,614,333 shares issued at March 31, 2018 and 117,547,116 shares issued at December 31, 2017	1,186	1,175
Treasury stock at cost, 5,750,000 shares at March 31, 2018 and December 31, 2017	(50,046)	(50,046)
Additional paid-in capital	1,786,424	1,786,941
Retained earnings (deficit)	(82,470)	(64,158)
Accumulated other comprehensive loss	(636,642)	(656,517)
Total equity	1,018,452	1,017,395
Total liabilities and equity	$ 2,532,379	$ 2,569,977

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 11,388	$ 11,588
Accumulated depreciation	$ 1,440,816	$ 1,429,515
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, issued shares	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	500,000,000	500,000,000
Common stock, issued shares	118,614,333	117,547,116
Common stock, shares outstanding	112,864,333	111,797,116
Treasury stock, shares	5,750,000	5,750,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Operating revenues:
Advertising	$ 399,525	$ 435,515
Circulation	266,586	283,286
Other	56,840	54,656
Total operating revenues	722,951	773,457
Operating expenses:
Cost of sales and operating expenses	456,984	499,718
Selling, general and administrative expenses	212,999	209,560
Depreciation and amortization	40,252	46,817
Restructuring costs	9,299	12,551
Asset impairment charges	3,756	3,778
Total operating expenses	723,290	772,424
Operating income (loss)	(339)	1,033
Non-operating expenses:
Interest expense	(4,478)	(4,255)
Other non-operating items, net	4,311	(3,887)
Total non-operating expenses	(167)	(8,142)
Loss before income taxes	(506)	(7,109)
Benefit for income taxes	(129)	(5,030)
Net loss	$ (377)	$ (2,079)
Loss per share – basic (in dollars per share)	$ 0	$ (0.02)
Loss per share – diluted (in dollars per share)	$ 0	$ (0.02)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Statement of Comprehensive Income [Abstract]
Net loss	$ (377)	$ (2,079)
Other comprehensive income, before tax:
Foreign currency translation adjustments	19,374	5,828
Pension and other postretirement benefit items:
Amortization of prior service credit, net	(404)	752
Amortization of actuarial loss	15,476	17,745
Other	(13,417)	(6,648)
Pension and other postretirement benefit items	1,655	11,849
Other comprehensive income, before tax	21,029	17,677
Income tax effect related to components of other comprehensive income	(1,154)	(5,336)
Other comprehensive income, net of tax	19,875	12,341
Comprehensive income	$ 19,498	$ 10,262

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Operating activities:
Net loss	$ (377)	$ (2,079)
Adjustments to reconcile net loss to net cash flow from operating activities:
Depreciation and amortization	40,252	46,817
Facility consolidation and asset impairment charges	6,490	4,479
Pension and other postretirement expenses, net of contributions	(16,372)	(3,645)
Stock-based compensation	4,652	5,125
Change in other assets and liabilities, net	30,508	(19,306)
Net cash provided by operating activities	65,153	31,391
Investing activities:
Capital expenditures	(13,548)	(15,040)
Payments for investments	(2,000)	(4,499)
Proceeds from sale of certain assets	3,596	228
Changes in other investing activities	3,929	119
Net cash used for investing activities	(8,023)	(19,192)
Financing activities:
Dividends paid	(18,057)	(18,177)
Payments for employee taxes withheld from stock awards	(2,697)	(3,528)
Proceeds from borrowings under revolving credit agreement	0	10,000
Repayments of borrowings under revolving credit agreement	(50,000)	(25,000)
Proceeds from sale and leaseback transaction	37,719	0
Changes in other financing activities	(8)	123
Net cash used for financing activities	(33,043)	(36,582)
Effect of currency exchange rate change on cash	1,157	(122)
Increase (decrease) in cash and cash equivalents and restricted cash	25,244	(24,505)
Balance of cash, cash equivalents, and restricted cash at beginning of period	144,032	138,212
Balance of cash, cash equivalents, and restricted cash at end of period	169,276	113,707
Supplemental cash flow information:
Cash paid for taxes, net of refunds	687	(1,560)
Cash paid for interest	3,132	5,820
Non-cash investing and financing activities:
Accrued capital expenditures	$ 2,864	$ 2,008

Basis of presentation and summa

Basis of presentation and summary of significant accounting policies	3 Months Ended
	Mar. 31, 2018
Basis of Presentation and Significant Accounting Policies [Abstract]
Basis of presentation and summary of significant accounting policies	NOTE 1 — Basis of presentation and summary of significant accounting policies Description of business: Gannett Co., Inc. (Gannett, we, us, our, or the company) is an innovative, digitally focused media and marketing solutions company committed to strengthening communities across our network. Gannett owns ReachLocal, Inc. (ReachLocal), a digital marketing solutions company, the USA TODAY NETWORK (made up of USA TODAY and 109 local media organizations in 34 states in the U.S. and Guam, including digital sites and affiliates), and Newsquest (a wholly owned subsidiary operating in the United Kingdom (U.K.) with more than 180 local media brands). Through the USA TODAY NETWORK and Newsquest, Gannett delivers high-quality, trusted content where and when consumers want to engage with it on virtually any device or platform. Basis of presentation: Our condensed consolidated financial statements are unaudited; however, in the opinion of management, they contain all of the adjustments (consisting of those of a normal recurring nature) considered necessary to present fairly the financial position, results of operations and cash flows for the periods presented in conformity with U.S. generally accepted accounting principles (U.S. GAAP) applicable to interim periods. All intercompany accounts have been eliminated in consolidation. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2017 . Fiscal year: Beginning in 2018, our fiscal year coincides with the Gregorian calendar. Historically, our fiscal year was a 52-53 week fiscal year that ended on the last Sunday of the calendar year and quarterly periods consisted of 13 or 14 weeks ending on the last Sunday of the calendar quarter. The impact of the calendar change did not have a material impact on our financial statements and, as a result, prior year amounts have not been restated. Use of estimates: The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and footnotes thereto. Actual results could differ from those estimates. Significant estimates and judgments inherent in the preparation of financial statements include accounting for income taxes, pension and other post-employment benefits, allowances for doubtful accounts, stock-based compensation, depreciation and amortization, business combinations, litigation matters, contingencies and the valuation of long-lived and intangible assets. New accounting pronouncements adopted: The following are new accounting pronouncements that we adopted in the first quarter of 2018 : Revenue from Contracts with Customers : We adopted Financial Accounting Standards Board (FASB) guidance which prescribes a single comprehensive model for entities to use in the accounting of revenue arising from contracts with customers. The new guidance is centered around the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted the new revenue recognition standard using the modified retrospective approach; however, we did not record any one-time adjustments to beginning retained earnings as a result of adopting the new guidance. Refer to Note 2 — Revenues for further details regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with our customers. Cash and Cash Equivalents, including Statement of Cash Flows and Restricted Cash: We adopted FASB guidance requiring entities to disclose, in their statements of cash flows, the change during the period in the total of cash, cash equivalents, and amounts generally described as "restricted cash" or "restricted cash equivalents." As a result, restricted cash and restricted cash equivalents must now be included within the total of cash and cash equivalents when reconciling the beginning and end of period totals shown on the statement of cash flows. The guidance was adopted retrospectively and the impact was not material to our consolidated financial results. Restricted cash primarily consists of cash held in an irrevocable grantor trust for our deferred compensation plans and cash held with banking institutions for insurance plans. The restrictions will lapse when benefits are paid to plan participants and their beneficiaries as specified in the plans. The following table presents a reconciliation of cash, cash equivalents, and restricted cash: in thousands March 31, 2018 December 31, 2017 March 26, 2017 Cash and cash equivalents $ 145,859 $ 120,589 $ 89,482 Restricted cash included in other current assets 3,189 2,942 4,351 Restricted cash included in investments and other assets 20,228 20,501 19,874 Total cash, cash equivalents, and restricted cash $ 169,276 $ 144,032 $ 113,707 Financial Assets and Financial Liabilities : We adopted FASB guidance revising the classification and measurement of investments in equity securities and the presentation of certain fair value changes in financial liabilities measured at fair value. The impact of adopting this guidance was not material to our consolidated financial results. Business Combinations—Definition of a Business : We adopted FASB guidance which amends the definition of a business. This new guidance now requires an entity to evaluate if substantially all of the fair value of gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. The impact of adopting this guidance was not material to our consolidated financial results. New accounting pronouncements not yet adopted: The following are new accounting pronouncements that we are evaluating for future impacts on our financial position: Leases: In February 2016, the FASB issued updated guidance modifying lease accounting for both lessees and lessors to increase transparency and comparability by recognizing lease assets and lease liabilities by lessees for those leases classified as operating leases under previous accounting standards and disclosing key information about leasing arrangements. This guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We are evaluating the provisions of the updated guidance and assessing the impact on our consolidated financial statements. Intangibles—Goodwill and Other : In January 2017, the FASB issued new guidance which simplifies the subsequent measurement of goodwill. The guidance permits an entity to perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, with such losses not exceeding the total amount of goodwill allocated to that reporting unit. This guidance is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. We are evaluating the provisions of the updated guidance and assessing the impact on our consolidated financial statements. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income: In February 2018, the FASB issued new guidance that allows a reclassification from accumulated other comprehensive income to retained earnings for the tax effects of items within accumulated other comprehensive income, generally described as stranded tax effects, resulting from the Tax Cuts and Jobs Act. This guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We are evaluating the provisions of the updated guidance and assessing the impact on our consolidated financial statements.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenues	NOTE 2 — Revenues In January 2018, we adopted the new revenue recognition accounting pronouncement, Accounting Standard Codification (ASC) 606 - Revenue from Contracts with Customers, using the modified retrospective method applied to those contracts which were not completed as of the adoption date. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606 while prior period amounts are not adjusted and continue to be reported in accordance with legacy accounting under ASC 605 - Revenue recognition. We did not record any one-time adjustments to beginning retained earnings as a result of adopting the new guidance. The following table presents our revenues disaggregated by source: in thousands Three months ended March 31, 2018 March 26, 2017 (1) Print advertising $ 225,513 $ 270,470 Digital advertising 174,012 165,045 Total advertising 399,525 435,515 Circulation 266,586 283,286 Other 56,840 54,656 Total revenues $ 722,951 $ 773,457 (1) Prior period amounts have not been adjusted under the modified retrospective method. Additionally, approximately 14% of our revenues are generated from international locations. Recognition principles: Our revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. Additionally, sales and usage-based taxes are excluded from revenues. Advertising revenues: Our advertising revenues include amounts charged to advertisers for space purchased in our newspapers, digital ads placed on our digital platforms, other advertising products and services such as preprints and direct mail, and the provision and sale of online marketing services and products through our ReachLocal subsidiary. Print advertising is recognized in the period when advertising is printed. Digital advertising is recognized when placed on digital platforms either by cost per impression or cost per day. Other advertising product and service revenues are recognized when advertisements or services are delivered. For online marketing products provided by our ReachLocal subsidiary, we enter into agreements for products in which our clients typically pay in advance and on a monthly basis. These prepayments include all charges for the included technology and any media services, management, third-party content, and other costs and fees. Revenue is then recognized as we purchase media on behalf of the customer and perform other marketing-related services. For our advertising revenues, we evaluate whether we are the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net basis) by performing analyses regarding whether we control the provision of specified goods or services before they are transferred to our customers. We report advertising revenues gross when we control advertising inventory before it is transferred to the customer. Our control is evidenced by us being primarily responsible or sharing responsibility for the fulfillment of services and maintaining control over transaction pricing. Certain customers may receive credits, which are accounted for as a separate performance obligation. We estimate these amounts based on the expected amount to be provided to customers and reduce revenues recognized. We recognize the revenue when the performance obligation is satisfied. Circulation revenues: Our circulation revenues include revenues for newspapers (both print and digital) purchased by readers or distributors. Single copy circulation revenues are recognized on a daily basis as purchased newspapers are distributed, net of provisions for related returns. Circulation revenue from digital and home delivery subscriptions are recognized over the subscription period as the performance obligations are delivered. Other revenues: Our other revenues consist primarily of amounts received from commercial printing and distribution arrangements, web presence and software-as-a-service solutions sold by our ReachLocal subsidiary, and revenues from other miscellaneous products and services. Commercial printing and distribution revenues are recognized when the product is delivered to the customer. Web presence and software-as-a-service solutions are recognized when the products or services are delivered to the customer. Arrangements with multiple performance obligations: We have various advertising and circulation agreements which have both print and digital performance obligations. Revenue from sales agreements that contain multiple performance obligations are allocated to each obligation based on the relative standalone selling price. We generally determine standalone selling prices based on the prices charged to customers or using expected cost plus a margin that is appropriate for that good or service. Deferred revenue: Amounts received from customers in advance of revenue recognition are deferred as liabilities. The following table presents changes in the deferred revenue balance for the three months ended March 31, 2018 by type of revenue: in thousands Three months ended March 31, 2018 Advertising and Other Circulation Total Beginning balance $ 33,986 $ 88,805 $ 122,791 Cash receipts 78,790 213,275 292,065 Revenue recognized (76,508 ) (203,715 ) (280,223 ) Ending balance $ 36,268 $ 98,365 $ 134,633 The Company’s primary source of deferred revenue is from circulation subscriptions paid in advance of the service provided. The majority of our subscription customers are billed and pay on monthly terms, but subscription periods can last between one and twelve months. The remaining deferred revenue balance relates to advertising and other revenue. The $11.8 million increase in deferred revenue as compared to the year ended December 31, 2017 is the result of an increase in subscription fees billed due to increased average monthly revenue per paying subscriber. Practical expedients and exemptions: We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within cost of sales. Additionally, we do not disclose the value of unsatisfied performance obligations because the vast majority of our contracts have original expected lengths of one year or less and our payment terms are generally short-term in nature unless a customer is in bankruptcy.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions	NOTE 3 — Acquisitions SweetIQ: In April 2017 , our ReachLocal subsidiary completed the acquisition of SweetIQ, a location and customer engagement software provider, for approximately $31.8 million , net of cash acquired. SweetIQ's customers include businesses with multi-location brands and agencies that target local marketing. The allocation of the purchase price is preliminary pending the finalization of the fair value of the acquired net assets and liabilities assumed, deferred income taxes, and assumed income and non-income based tax liabilities. As of the acquisition date, the purchase price was assigned to the acquired assets and assumed liabilities as follows: goodwill of $18.8 million , intangible assets of $15.2 million (comprised of trade names, customer relationships, and developed technology), noncurrent assets of $0.6 million , noncurrent liabilities of $1.8 million , and positive net working capital of $0.3 million . 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. Goodwill associated with the acquisition of SweetIQ is allocated to the ReachLocal segment. We do not expect the purchase price allocated to goodwill and intangibles to be deductible for tax purposes. Other: During 2018 and 2017 , we completed other immaterial acquisitions.

Restructuring activities

Restructuring activities	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring activities and asset impairment charges	NOTE 4 — Restructuring activities and asset impairment charges Over the past several years, we have engaged in a series of individual restructuring programs designed to right size our employee base, consolidate facilities, and improve operations. Facility consolidation and other cost savings plans led us to recognize severance-related expenses, facility consolidation, accelerated depreciation, and asset impairment charges. As part of our plans, we are selling certain assets which we have classified as held-for-sale and for which we have reduced the carrying values to equal the fair values less costs to dispose. Severance-related expenses: We recorded severance-related expenses of $6.6 million and $11.9 million for the three months ended March 31, 2018 and March 26, 2017 , respectively. Of the expenses incurred for the three months ended March 31, 2018 , $5.6 million related to the publishing segment, $0.6 million related to the ReachLocal segment, and $0.4 million related to corporate and other. Of the expenses incurred for the three months ended March 26, 2017 , $10.4 million related to the publishing segment and $1.5 million related to corporate and other. The activity and balance of the severance-related liabilities are as follows: In thousands Severance Activities Balance at Dec. 31, 2017 $ 10,562 Expense 6,565 Payments (7,052 ) Balance at Mar. 31, 2018 $ 10,075 Facility consolidation charges and accelerated depreciation: We recorded facility consolidation charges of $2.7 million and $0.7 million for the three months ended March 31, 2018 and March 26, 2017 , respectively. In addition, we incurred accelerated depreciation of $5.2 million and $9.8 million for the three months ended March 31, 2018 and March 26, 2017 , respectively, which is included in depreciation expense. These expenses were related to the publishing segment. Asset impairment charges: We recorded charges for asset impairments of $3.8 million for each of the three months ended March 31, 2018 and March 26, 2017 , which consisted entirely of impairment charges for property, plant, and equipment. These expenses were related to the publishing segment. Sale of property: In February 2018 , we sold property in Nashville, Tennessee and entered into a 15 -month rent-free leaseback agreement. The sale generated proceeds of approximately $37.7 million and is accounted for under the financing method. The property, which has a net book value of approximately $12.0 million as of March 31, 2018 , remains on the balance sheet and will continue to be depreciated until the lease terminates. We recorded the financing liability within Other noncurrent liabilities in the Condensed consolidated balance sheet. The sale, along with any related gain, will be recognized when the lease terminates.

Revolving credit facility

Revolving credit facility	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Revolving credit facility	NOTE 5 — Revolving credit facility We maintain a secured revolving credit facility pursuant to which we may borrow from time to time up to an aggregate principal amount of $500.0 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 varies from 1.00% to 1.50% . Up to $50.0 million of the Credit Facility is available for issuance of letters of credit. The Credit Facility matures on June 29, 2020. Customary fees are payable related to 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 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. Under the Credit Facility, our consolidated interest coverage ratio cannot be less than 3.00 :1.00, and our total leverage ratio cannot exceed 3.00 :1.00, in each case as of the last day of the test period consisting of the last four consecutive fiscal quarters. We were in compliance with all financial covenants under the Credit Facility as of March 31, 2018 . The Credit Facility also contains a number of covenants that, among other things, limit or restrict our ability, subject to certain exceptions, 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. We were in compliance with these covenants as of March 31, 2018 . As of March 31, 2018 , we had $305.0 million in outstanding borrowings under the Credit Facility and $15.0 million of letters of credit outstanding, leaving $180.0 million of availability remaining. After the quarter ended, we made additional payments on the revolving credit facility to reduce outstanding borrowings. Refer to Note 13 — Subsequent events for additional details.

Pensions and other postretireme

Pensions and other postretirement benefit plans	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Pensions and other postretirement benefit plans	NOTE 6 — Pensions and other postretirement benefit plans We, along with our subsidiaries, have various defined benefit retirement plans, including plans established under collective bargaining agreements. Our retirement plans include the Gannett Retirement Plan (GRP), Newsquest and Romanes Pension Schemes in the U.K. (U.K. Pension Plans), and other defined benefit contribution plans. We also provide health care and life insurance benefits to certain retired employees who meet age and service requirements. Retirement plan costs include the following components: In thousands Three months ended March 31, 2018 March 26, 2017 Pension Postretirement Pension Postretirement Operating expenses: Service cost - Benefits earned during the period $ 602 $ 55 $ 820 $ 52 Non-operating expenses: Interest cost on benefit obligation 25,421 783 27,779 941 Expected return on plan assets (44,549 ) — (42,417 ) — Amortization of prior service cost 479 (883 ) 1,660 (908 ) Amortization of actuarial loss 15,381 95 17,620 125 Total non-operating expenses (credit) (3,268 ) (5 ) 4,642 158 Total expense (benefit) for retirement plans $ (2,666 ) $ 50 $ 5,462 $ 210 During the three months ended March 31, 2018 , we contributed $10.5 million and $3.3 million to our pension and other post-retirement plans, respectively. We expect to contribute approximately $25.0 million to the GRP in each of the fiscal years 2018 through 2020 and $15.0 million in 2021. We also expect to contribute approximately £15.0 million per year to the U.K. Pension Plans from 2018 through 2022.

Income taxes

Income taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income taxes	NOTE 7 — Income taxes Our reported effective income tax rate on pre-tax loss was 25.6% for the three months ended March 31, 2018 compared to 69.8% on pre-tax loss for the three months ended March 26, 2017 . In the case of pre-tax losses, favorable permanent differences such as excess stock compensation and a favorable audit settlement that resulted in the release of tax reserves have the effect of increasing the tax benefit which, in turn, increases the effective tax rate. The Company had lower favorable permanent differences such as excess stock compensation and lower favorable release of tax reserves for the three months ended March 31, 2018 versus the three months ended March 26, 2017 ; this, combined with the effects of the lower federal statutory rate, resulted in a lower effective tax rate. Our quarterly effective rate is calculated in part based on full year forecasted income. During 2017 , over 50% of full year forecasted income was earned in foreign jurisdictions where the income tax rate is lower than in the U.S. The lower domestic income for 2017 was attributable to higher domestic expenses, including public company costs, restructuring charges, and asset impairments relative to comparable corporate expenses incurred in foreign jurisdictions. The mix of income generated from lower tax rate foreign jurisdictions relative to U.S. domestic income had the effect of decreasing our tax expense and our effective rate during 2017 . In contrast, we are forecasting higher U.S. income relative to our foreign jurisdictions during 2018 . In December 2017 , the Tax Cuts and Jobs Act (the “Tax Act”) was signed into law. The Tax Act contains significant changes to corporate taxation, including a reduction of the corporate tax rate from 35% to 21% , limitation of the tax deduction for interest expense to 30% of earnings, limitation of the deduction for net operating losses (generated after 2017 ) to 80% of current year taxable income, elimination of net operating loss carrybacks, one time taxation of offshore earnings at reduced rates regardless of whether offshore earnings are repatriated, elimination of U.S. tax on foreign earnings (subject to certain important exceptions), immediate deductions for certain new investments instead of deductions for depreciation expense over time, and modifying or repealing many business deductions and credits. The Tax Act also includes certain provisions that will offset the benefits of the rate reduction such as repeal of the domestic production deduction and disallowance of the deduction of performance based officers’ compensation in excess of $1 million . In December 2017 , Staff Accounting Bulletin No. 118 ("SAB 118") was issued to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Act. As of March 31, 2018 , we have not completed our accounting for the tax effects of the enactment of the Tax Act; however, where possible, as described herein, we have made a reasonable estimate of the effects on our existing deferred tax balances and related items and other tax liabilities. In 2017 , we remeasured our deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21% for U.S. federal tax purposes. However, this remeasurement is based on estimates as of the enactment date of the Tax Act and our existing analysis of the numerous complex tax law changes in the Tax Act. As we finalize our analysis of these changes, including the impact on our 2017 tax return filing positions throughout the year, we will update our provisional amounts for this remeasurement. The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was approximately $29.9 million as of March 31, 2018 and $30.1 million as of December 31, 2017 . The amount of accrued interest and penalties payable related to unrecognized tax benefits was $1.1 million as of March 31, 2018 and $0.9 million as of December 31, 2017 . 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 $3.4 million within the next 12 months primarily due to lapses of statutes of limitations and settlements of ongoing audits in various jurisdictions.

Supplemental equity information

Supplemental equity information	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Supplemental equity information	NOTE 8 — Supplemental equity information The following table summarizes equity account activity: In thousands Three months ended March 31, 2018 March 26, 2017 Balance at beginning of period $ 1,017,395 $ 856,761 Comprehensive income: Net loss (377 ) (2,079 ) Other comprehensive income 19,875 12,341 Total comprehensive income 19,498 10,262 Dividends declared (17,935 ) (18,177 ) Stock-based compensation 4,652 5,125 Other activity (5,158 ) (3,434 ) Balance at end of period $ 1,018,452 $ 850,537 Changes in our common stock balance consist entirely of new shares issued for the settlement of employee stock awards. Approximately 1.1 million and 0.7 million new shares were issued for the three months ended March 31, 2018 and March 26, 2017 , respectively. 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 Balance at December 31, 2017 $ (1,000,790 ) $ 344,273 $ (656,517 ) Other comprehensive income (loss) before reclassifications (10,868 ) 19,374 8,506 Amounts reclassified from accumulated other comprehensive loss 11,369 — 11,369 Other comprehensive income 501 19,374 19,875 Balance at March 31, 2018 $ (1,000,289 ) $ 363,647 $ (636,642 ) Balance at December 25, 2016 $ (1,183,196 ) $ 300,284 $ (882,912 ) Other comprehensive income (loss) before reclassifications (5,385 ) 5,828 443 Amounts reclassified from accumulated other comprehensive loss 11,898 — 11,898 Other comprehensive income 6,513 5,828 12,341 Balance at March 26, 2017 $ (1,176,683 ) $ 306,112 $ (870,571 ) Accumulated other comprehensive loss components are included in computing net periodic postretirement costs as outlined in Note 6 — Pensions and other postretirement benefit plans . Reclassifications out of accumulated other comprehensive loss related to these postretirement plans include the following: In thousands Three months ended March 31, 2018 March 26, 2017 Amortization of prior service credit, net $ (404 ) $ 752 Amortization of actuarial loss 15,476 17,745 Total reclassifications, before tax 15,072 18,497 Income tax effect (3,703 ) (6,599 ) Total reclassifications, net of tax $ 11,369 $ 11,898

Fair value measurement

Fair value measurement	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair value measurement	NOTE 9 — Fair value measurement We measure and record certain assets and liabilities at fair value. A fair value measurement is determined based on market assumptions that a market participant would use in pricing an asset or liability. A three-tiered hierarchy draws distinctions between market participant assumptions based on (i) observable inputs such as quoted prices in active markets (Level 1), (ii) inputs other than quoted active markets that are observable either directly or indirectly (Level 2) and (iii) unobservable inputs that require use of our own estimates and assumptions through present value and other valuation techniques in determination of fair value (Level 3). As of March 31, 2018 and December 31, 2017 , assets and liabilities recorded at fair value and measured on a recurring basis primarily consist of pension plan assets. As permitted by U.S. GAAP, we use net asset values as a practical expedient to determine the fair value of certain investments. These investments measured at net asset value have not been classified in the fair value hierarchy. The revolving credit facility is recorded at carrying value, which approximates fair value, in the Condensed consolidated balance sheets and is classified as Level 3. We also have certain assets requiring fair value measurement on a non-recurring basis. Our assets measured on a nonrecurring basis are assets held for sale, which are classified as Level 3 assets and evaluated using executed purchase agreements, letters of intent, or third-party valuation analyses when certain circumstances arise. Assets held for sale totaled $20.8 million as of March 31, 2018 and $18.9 million as of December 31, 2017 .

Commitments, contingencies and

Commitments, contingencies and other matters	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments, contingencies and other matters	NOTE 10 — Commitments, contingencies and other matters Telephone Consumer Protection Act (TCPA) litigation: In January 2014 , a class action lawsuit was filed against Gannett in the U.S. District Court for the District of New Jersey (Casagrand et al v. Gannett Co., Inc., et al). The suit claims various violations of the Telephone Consumer Protection Act (TCPA) arising from allegedly improper telemarketing calls made to consumers by one of our vendors. The plaintiffs sought to certify a class that would include all telemarketing calls made by the vendor or us. The TCPA provides for statutory damages of $500 per violation ( $1,500 for willful violations). In April 2016 , we agreed to settle all claims raised. The estimated settlements are reflected in our financial statements as of March 31, 2018 and were not material to our results of operations, financial position, or cash flows. Environmental contingency: In March 2011 , the Advertiser Company (Advertiser), a subsidiary that publishes the Montgomery Advertiser , was notified by the U.S. Environmental Protection Agency (EPA) that it had been identified as a potentially responsible party (PRP) for the investigation and remediation of groundwater contamination in downtown Montgomery, Alabama. The Advertiser is a member of the Downtown Environmental Alliance, which has agreed to jointly fund and conduct all required investigation and remediation. In 2015 , the Advertiser and other members of the Downtown Environmental Alliance reached a settlement with the U.S. EPA regarding the costs the U.S. EPA spent to investigate the site. The U.S. EPA has transferred responsibility for oversight of the site to the Alabama Department of Environmental Management, which has approved the work plan for the additional site investigation that is currently underway. The Advertiser's final costs cannot be determined until the investigation is complete, a determination is made on whether any remediation is necessary, and contributions from other PRPs are finalized. Other litigation: We are defendants in judicial and administrative proceedings involving matters incidental to our business. While the ultimate results of these proceedings cannot be predicted with certainty, we expect the ultimate resolution of all pending or threatened claims and litigation will not have a material effect on our consolidated results of operations, financial position, or cash flows.

Loss per share

Loss per share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Loss per share	NOTE 11 — Loss per share Basic and diluted weighted average number of shares outstanding were 112,756,000 and 113,495,000 for the three months ended March 31, 2018 and March 26, 2017 , respectively. Additionally, outstanding common stock equivalents of 3,095,000 and 1,778,000 were excluded from the computation of diluted loss per share for the three months ended March 31, 2018 and March 26, 2017 , respectively, because their effect would have been anti-dilutive due to the net losses in each period. On February 28, 2018 , we declared a dividend of $0.16 per share of common stock, which was paid on March 26, 2018 , to shareholders of record as of the close of business on March 12, 2018 . Furthermore, on May 8, 2018 , we declared a dividend of $0.16 per share of common stock, payable on June 25, 2018 , to shareholders of record as of the close of business on June 11, 2018 .

Segment reporting

Segment reporting	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment reporting	NOTE 12 — Segment reporting We define our reportable segments based on the way the chief operating decision maker (CODM), currently the Chief Executive Officer, manages the operations for purposes of allocating resources and assessing performance. Our reportable segments include the following: • Publishing, which consists of our portfolio of local, regional, national, and international newspaper publishers. The results of this segment include local, classified, and national advertising revenues consisting of both print and digital advertising, circulation revenues from the distribution of our publications on our digital platforms, home delivery of our publications, single copy sales, and other revenues from commercial printing and distribution arrangements. The publishing reportable segment is an aggregation of two operating segments: domestic publishing and the U.K. • ReachLocal, which consists exclusively of our ReachLocal digital marketing solutions subsidiaries. The results of this segment include advertising revenues from our search and display services and other revenues related to web presence and software solutions provided by ReachLocal. In addition to the above operating segments, we have a corporate and other category that includes activities not directly attributable to a specific segment. This category primarily consists of broad corporate functions and includes legal, human resources, accounting, finance, and marketing as well as activities such as tax settlements and other general business costs. In the ordinary course of business, our reportable segments enter into transactions with one another. While intersegment transactions are treated like third-party transactions to determine segment performance, the revenues and expenses recognized by the segment that is the counterparty to the transaction are eliminated in consolidation and do not affect consolidated results. The CODM uses adjusted EBITDA to evaluate the performance of the segments and allocate resources. Adjusted EBITDA is a non-GAAP financial performance measure we believe offers a useful view of the overall operation of our businesses and may be different than similarly-titled non-GAAP financial measures used by other companies. Adjusted EBITDA is defined as net income before (1) income taxes, (2) interest expense, (3) equity income, (4) other non-operating items, (5) restructuring costs, (6) acquisition-related expenses (including integration expenses), (7) asset impairment charges, (8) other items (including certain business transformation costs, litigation expenses, multi-employer pension withdrawals, and gains or losses on certain investments), (9) depreciation, and (10) amortization. When adjusted EBITDA is discussed in this report, the most directly comparable GAAP financial measure is net income. Management considers adjusted EBITDA to be the appropriate metric to evaluate and compare the ongoing operating performance of our segments on a consistent basis across reporting periods as it eliminates the effect of items which we do not believe are indicative of each segment's core operating performance. The following table presents our segment information: In thousands Publishing ReachLocal Corporate and Other Intersegment Eliminations Consolidated Three months ended March 31, 2018 Advertising - external sales $ 314,223 $ 85,302 $ — $ — $ 399,525 Advertising - intersegment sales 12,767 — — (12,767 ) — Circulation 266,586 — — — 266,586 Other - external sales 43,678 11,186 1,976 — 56,840 Other - intersegment sales 1,406 — — (1,406 ) — Total revenues $ 638,660 $ 96,488 $ 1,976 $ (14,173 ) $ 722,951 Adjusted EBITDA $ 77,758 $ 6,209 $ (28,899 ) $ — $ 55,068 Three months ended March 26, 2017 Advertising $ 365,085 $ 70,482 $ (52 ) $ — $ 435,515 Circulation 283,286 — — — 283,286 Other 46,553 7,083 1,020 — 54,656 Total revenues $ 694,924 $ 77,565 $ 968 $ — $ 773,457 Adjusted EBITDA $ 91,664 $ 3,146 $ (25,129 ) $ — $ 69,681 The following table presents our reconciliation of adjusted EBITDA to net income: In thousands Three months ended March 31, 2018 March 26, 2017 Net loss (GAAP basis) $ (377 ) $ (2,079 ) Benefit for income taxes (129 ) (5,030 ) Interest expense 4,478 4,255 Other non-operating items, net (4,311 ) 3,887 Operating income (loss) (GAAP basis) (339 ) 1,033 Depreciation and amortization 40,252 46,817 Restructuring costs 9,299 12,551 Asset impairment charges 3,756 3,778 Acquisition-related items 924 1,023 Other items 1,176 4,479 Adjusted EBITDA (non-GAAP basis) $ 55,068 $ 69,681 Asset information by segment is not a key measure of performance used by the CODM. Accordingly, we have not disclosed asset information by segment. Additionally, equity income in unconsolidated investees, net, interest expense, other non-operating items, net, and provision for income taxes, as reported in the condensed consolidated financial statements, are not part of operating income and are primarily recorded at the corporate level.

Subsequent events

Subsequent events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent events	NOTE 13 — Subsequent events Convertible Debt Offering On April 9, 2018 , we completed an offering of 4.75% convertible senior notes, with an initial offering size of $175.0 million aggregate principal amount. As part of the offering, the initial purchaser of the notes exercised its option to purchase an additional $26.3 million aggregate principal amount of notes, resulting in total aggregate principal of $201.3 million and net proceeds of approximately $195.0 million . These proceeds were used to pay down outstanding borrowings under our revolving credit facility. Interest on the notes is payable semi-annually in arrears. The notes mature on April 15, 2024 with the earliest redemption date being April 15, 2022 . The stated conversion rate of the notes is 82.4572 shares per $1,000 in principal.

Basis of presentation and sum20

Basis of presentation and summary of significant accounting policies (Policies)	3 Months Ended
	Mar. 31, 2018
Basis of Presentation and Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of presentation: Our condensed consolidated financial statements are unaudited; however, in the opinion of management, they contain all of the adjustments (consisting of those of a normal recurring nature) considered necessary to present fairly the financial position, results of operations and cash flows for the periods presented in conformity with U.S. generally accepted accounting principles (U.S. GAAP) applicable to interim periods. All intercompany accounts have been eliminated in consolidation. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2017 . Fiscal year: Beginning in 2018, our fiscal year coincides with the Gregorian calendar. Historically, our fiscal year was a 52-53 week fiscal year that ended on the last Sunday of the calendar year and quarterly periods consisted of 13 or 14 weeks ending on the last Sunday of the calendar quarter. The impact of the calendar change did not have a material impact on our financial statements and, as a result, prior year amounts have not been restated.
Use of Estimates	Use of estimates: The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and footnotes thereto. Actual results could differ from those estimates. Significant estimates and judgments inherent in the preparation of financial statements include accounting for income taxes, pension and other post-employment benefits, allowances for doubtful accounts, stock-based compensation, depreciation and amortization, business combinations, litigation matters, contingencies and the valuation of long-lived and intangible assets.
New accounting pronouncements adopted	New accounting pronouncements adopted: The following are new accounting pronouncements that we adopted in the first quarter of 2018 : Revenue from Contracts with Customers : We adopted Financial Accounting Standards Board (FASB) guidance which prescribes a single comprehensive model for entities to use in the accounting of revenue arising from contracts with customers. The new guidance is centered around the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount reflecting the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted the new revenue recognition standard using the modified retrospective approach; however, we did not record any one-time adjustments to beginning retained earnings as a result of adopting the new guidance. Refer to Note 2 — Revenues for further details regarding the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with our customers. Cash and Cash Equivalents, including Statement of Cash Flows and Restricted Cash: We adopted FASB guidance requiring entities to disclose, in their statements of cash flows, the change during the period in the total of cash, cash equivalents, and amounts generally described as "restricted cash" or "restricted cash equivalents." As a result, restricted cash and restricted cash equivalents must now be included within the total of cash and cash equivalents when reconciling the beginning and end of period totals shown on the statement of cash flows. The guidance was adopted retrospectively and the impact was not material to our consolidated financial results. Restricted cash primarily consists of cash held in an irrevocable grantor trust for our deferred compensation plans and cash held with banking institutions for insurance plans. The restrictions will lapse when benefits are paid to plan participants and their beneficiaries as specified in the plans. The following table presents a reconciliation of cash, cash equivalents, and restricted cash: in thousands March 31, 2018 December 31, 2017 March 26, 2017 Cash and cash equivalents $ 145,859 $ 120,589 $ 89,482 Restricted cash included in other current assets 3,189 2,942 4,351 Restricted cash included in investments and other assets 20,228 20,501 19,874 Total cash, cash equivalents, and restricted cash $ 169,276 $ 144,032 $ 113,707 Financial Assets and Financial Liabilities : We adopted FASB guidance revising the classification and measurement of investments in equity securities and the presentation of certain fair value changes in financial liabilities measured at fair value. The impact of adopting this guidance was not material to our consolidated financial results. Business Combinations—Definition of a Business : We adopted FASB guidance which amends the definition of a business. This new guidance now requires an entity to evaluate if substantially all of the fair value of gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. The impact of adopting this guidance was not material to our consolidated financial results. New accounting pronouncements not yet adopted: The following are new accounting pronouncements that we are evaluating for future impacts on our financial position: Leases: In February 2016, the FASB issued updated guidance modifying lease accounting for both lessees and lessors to increase transparency and comparability by recognizing lease assets and lease liabilities by lessees for those leases classified as operating leases under previous accounting standards and disclosing key information about leasing arrangements. This guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We are evaluating the provisions of the updated guidance and assessing the impact on our consolidated financial statements. Intangibles—Goodwill and Other : In January 2017, the FASB issued new guidance which simplifies the subsequent measurement of goodwill. The guidance permits an entity to perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, with such losses not exceeding the total amount of goodwill allocated to that reporting unit. This guidance is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. We are evaluating the provisions of the updated guidance and assessing the impact on our consolidated financial statements. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income: In February 2018, the FASB issued new guidance that allows a reclassification from accumulated other comprehensive income to retained earnings for the tax effects of items within accumulated other comprehensive income, generally described as stranded tax effects, resulting from the Tax Cuts and Jobs Act. This guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. We are evaluating the provisions of the updated guidance and assessing the impact on our consolidated financial statements.

Basis of presentation and sum21

Basis of presentation and summary of significant accounting policies (Tables)	3 Months Ended
	Mar. 31, 2018
Basis of Presentation and Significant Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table presents a reconciliation of cash, cash equivalents, and restricted cash: in thousands March 31, 2018 December 31, 2017 March 26, 2017 Cash and cash equivalents $ 145,859 $ 120,589 $ 89,482 Restricted cash included in other current assets 3,189 2,942 4,351 Restricted cash included in investments and other assets 20,228 20,501 19,874 Total cash, cash equivalents, and restricted cash $ 169,276 $ 144,032 $ 113,707

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents our revenues disaggregated by source: in thousands Three months ended March 31, 2018 March 26, 2017 (1) Print advertising $ 225,513 $ 270,470 Digital advertising 174,012 165,045 Total advertising 399,525 435,515 Circulation 266,586 283,286 Other 56,840 54,656 Total revenues $ 722,951 $ 773,457 (1) Prior period amounts have not been adjusted under the modified retrospective method. Additionally, approximately 14% of our revenues are generated from international locations.
Deferred Revenue, by Arrangement, Disclosure	The following table presents changes in the deferred revenue balance for the three months ended March 31, 2018 by type of revenue: in thousands Three months ended March 31, 2018 Advertising and Other Circulation Total Beginning balance $ 33,986 $ 88,805 $ 122,791 Cash receipts 78,790 213,275 292,065 Revenue recognized (76,508 ) (203,715 ) (280,223 ) Ending balance $ 36,268 $ 98,365 $ 134,633

Restructuring activities and as

Restructuring activities and asset impairment charges (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The activity and balance of the severance-related liabilities are as follows: In thousands Severance Activities Balance at Dec. 31, 2017 $ 10,562 Expense 6,565 Payments (7,052 ) Balance at Mar. 31, 2018 $ 10,075

Pensions and other postretire24

Pensions and other postretirement benefit plans (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Benefit costs	Retirement plan costs include the following components: In thousands Three months ended March 31, 2018 March 26, 2017 Pension Postretirement Pension Postretirement Operating expenses: Service cost - Benefits earned during the period $ 602 $ 55 $ 820 $ 52 Non-operating expenses: Interest cost on benefit obligation 25,421 783 27,779 941 Expected return on plan assets (44,549 ) — (42,417 ) — Amortization of prior service cost 479 (883 ) 1,660 (908 ) Amortization of actuarial loss 15,381 95 17,620 125 Total non-operating expenses (credit) (3,268 ) (5 ) 4,642 158 Total expense (benefit) for retirement plans $ (2,666 ) $ 50 $ 5,462 $ 210

Supplemental equity informati25

Supplemental equity information (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Equity	The following table summarizes equity account activity: In thousands Three months ended March 31, 2018 March 26, 2017 Balance at beginning of period $ 1,017,395 $ 856,761 Comprehensive income: Net loss (377 ) (2,079 ) Other comprehensive income 19,875 12,341 Total comprehensive income 19,498 10,262 Dividends declared (17,935 ) (18,177 ) Stock-based compensation 4,652 5,125 Other activity (5,158 ) (3,434 ) Balance at end of period $ 1,018,452 $ 850,537
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 Balance at December 31, 2017 $ (1,000,790 ) $ 344,273 $ (656,517 ) Other comprehensive income (loss) before reclassifications (10,868 ) 19,374 8,506 Amounts reclassified from accumulated other comprehensive loss 11,369 — 11,369 Other comprehensive income 501 19,374 19,875 Balance at March 31, 2018 $ (1,000,289 ) $ 363,647 $ (636,642 ) Balance at December 25, 2016 $ (1,183,196 ) $ 300,284 $ (882,912 ) Other comprehensive income (loss) before reclassifications (5,385 ) 5,828 443 Amounts reclassified from accumulated other comprehensive loss 11,898 — 11,898 Other comprehensive income 6,513 5,828 12,341 Balance at March 26, 2017 $ (1,176,683 ) $ 306,112 $ (870,571 )
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 March 31, 2018 March 26, 2017 Amortization of prior service credit, net $ (404 ) $ 752 Amortization of actuarial loss 15,476 17,745 Total reclassifications, before tax 15,072 18,497 Income tax effect (3,703 ) (6,599 ) Total reclassifications, net of tax $ 11,369 $ 11,898

Segment reporting (Tables)

Segment reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table presents our segment information: In thousands Publishing ReachLocal Corporate and Other Intersegment Eliminations Consolidated Three months ended March 31, 2018 Advertising - external sales $ 314,223 $ 85,302 $ — $ — $ 399,525 Advertising - intersegment sales 12,767 — — (12,767 ) — Circulation 266,586 — — — 266,586 Other - external sales 43,678 11,186 1,976 — 56,840 Other - intersegment sales 1,406 — — (1,406 ) — Total revenues $ 638,660 $ 96,488 $ 1,976 $ (14,173 ) $ 722,951 Adjusted EBITDA $ 77,758 $ 6,209 $ (28,899 ) $ — $ 55,068 Three months ended March 26, 2017 Advertising $ 365,085 $ 70,482 $ (52 ) $ — $ 435,515 Circulation 283,286 — — — 283,286 Other 46,553 7,083 1,020 — 54,656 Total revenues $ 694,924 $ 77,565 $ 968 $ — $ 773,457 Adjusted EBITDA $ 91,664 $ 3,146 $ (25,129 ) $ — $ 69,681 The following table presents our reconciliation of adjusted EBITDA to net income: In thousands Three months ended March 31, 2018 March 26, 2017 Net loss (GAAP basis) $ (377 ) $ (2,079 ) Benefit for income taxes (129 ) (5,030 ) Interest expense 4,478 4,255 Other non-operating items, net (4,311 ) 3,887 Operating income (loss) (GAAP basis) (339 ) 1,033 Depreciation and amortization 40,252 46,817 Restructuring costs 9,299 12,551 Asset impairment charges 3,756 3,778 Acquisition-related items 924 1,023 Other items 1,176 4,479 Adjusted EBITDA (non-GAAP basis) $ 55,068 $ 69,681

Basis of presentation and sum27

Basis of presentation and summary of significant accounting policies - Narrative (Details)	Mar. 31, 2018brandstateorganization
U.S.
Significant Accounting Policies [Line Items]
Number of media organizations | organization	109
Number of states in which entity operates | state	34
U.K.
Significant Accounting Policies [Line Items]
Number of media brands, more than | brand	180

Basis of presentation and sum28

Basis of presentation and summary of significant accounting policies - Schedule of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 26, 2017	Dec. 25, 2016
Basis of Presentation and Significant Accounting Policies [Abstract]
Cash and cash equivalents	$ 145,859	$ 120,589	$ 89,482
Restricted cash included in other current assets	3,189	2,942	4,351
Restricted cash included in investments and other assets	20,228	20,501	19,874
Total cash, cash equivalents, and restricted cash	$ 169,276	$ 144,032	$ 113,707	$ 138,212

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Disaggregation of Revenue [Line Items]
Advertising	$ 399,525	$ 435,515
Circulation	266,586	283,286
Other	56,840	54,656
Total operating revenues	722,951	773,457
Print
Disaggregation of Revenue [Line Items]
Advertising	225,513	270,470
Digital
Disaggregation of Revenue [Line Items]
Advertising	$ 174,012	$ 165,045

Revenues - Narrative (Details)

Revenues - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Increase in deferred revenue	$ 11.8
International
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, percentage	14.30%

Revenues - Deferred Revenue (De

Revenues - Deferred Revenue (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Movement in Deferred Revenue [Roll Forward]
Beginning balance	$ 122,791
Cash receipts	292,065
Revenue recognized	(280,223)
Ending balance	134,633
Advertising and Other
Movement in Deferred Revenue [Roll Forward]
Beginning balance	33,986
Cash receipts	78,790
Revenue recognized	(76,508)
Ending balance	36,268
Circulation
Movement in Deferred Revenue [Roll Forward]
Beginning balance	88,805
Cash receipts	213,275
Revenue recognized	(203,715)
Ending balance	$ 98,365

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2017	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill		$ 744,090	$ 737,716
SweetIQ
Business Acquisition [Line Items]
Payments for acquisitions, net of cash acquired	$ 31,800
Goodwill	18,800
Intangible assets	15,200
Other noncurrent assets	600
Noncurrent liabilities	1,800
Net working capital	$ 300

Restructuring activities and 33

Restructuring activities and asset impairment charges - Narrative (Details) - USD ($) $ in Thousands	Feb. 05, 2018	Mar. 31, 2018	Mar. 26, 2017
Restructuring Cost and Reserve [Line Items]
Rent-free leaseback term	15 months
Proceeds from sale of property, plant, and equipment	$ 37,700
Book value		$ 12,000
Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges		6,565	$ 11,900
Facility Closing
Restructuring Cost and Reserve [Line Items]
Asset impairment and other charges, pre-tax amount		2,700	700
Corporate | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges		400	1,500
Publishing
Restructuring Cost and Reserve [Line Items]
Asset impairment and other charges, pre-tax amount		3,800	3,800
Accelerated depreciation		5,200	9,800
Publishing | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges		5,600	$ 10,400
ReachLocal | Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 600

Restructuring activities and 34

Restructuring activities and asset impairment charges - Restructuring Reserve (Details) - Severance - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Restructuring Reserve [Roll Forward]
Beginning balance	$ 10,562
Expense	6,565	$ 11,900
Payments	(7,052)
Ending balance	$ 10,075

Revolving credit facility - Nar

Revolving credit facility - Narrative (Details) - Line of Credit	3 Months Ended
	Mar. 31, 2018USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Outstanding amount	$ 305,000,000
Remaining borrowing capacity	180,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	50,000,000
Outstanding amount	15,000,000
Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
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 | Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis point spread on variable rate (as a percent)	0.50%
LIBOR | Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis point spread on variable rate (as a percent)	1.00%
Minimum | Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee on undrawn commitments (as a percent)	0.30%
Minimum | LIBOR | Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis point spread on variable rate (as a percent)	2.00%
Minimum | ABR | Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis point spread on variable rate (as a percent)	1.00%
Maximum | Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Commitment fee on undrawn commitments (as a percent)	0.40%
Maximum | LIBOR | Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis point spread on variable rate (as a percent)	2.50%
Maximum | ABR | Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Basis point spread on variable rate (as a percent)	1.50%

Pensions and other postretire36

Pensions and other postretirement benefit plans - Retirement Plan Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Pension Plans
Company's pension costs
Total expense (benefit) for retirement plans	$ (2,666)	$ 5,462
Post-retirement Benefits Other Than Pension
Company's pension costs
Total expense (benefit) for retirement plans	50	210
Operating Expense | Pension Plans
Company's pension costs
Service cost - Benefits earned during the period	602	820
Operating Expense | Post-retirement Benefits Other Than Pension
Company's pension costs
Service cost - Benefits earned during the period	55	52
Non-Operating Expense (Credit) | Pension Plans
Company's pension costs
Interest cost on benefit obligation	25,421	27,779
Expected return on plan assets	(44,549)	(42,417)
Amortization of prior service cost	479	1,660
Amortization of actuarial loss	15,381	17,620
Total expense (benefit) for retirement plans	(3,268)	4,642
Non-Operating Expense (Credit) | Post-retirement Benefits Other Than Pension
Company's pension costs
Interest cost on benefit obligation	783	941
Expected return on plan assets	0	0
Amortization of prior service cost	(883)	(908)
Amortization of actuarial loss	95	125
Total expense (benefit) for retirement plans	$ (5)	$ 158

Pensions and other postretire37

Pensions and other postretirement benefit plans - Narrative (Details) - 3 months ended Mar. 31, 2018 £ in Millions, $ in Millions	USD ($)	GBP (£)	USD ($)
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions remainder of 2018		£ 15	$ 25
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Contribution to the defined benefit plans	$ 10.5
Pension Plans | Gannett Retirement Plan
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in 2019		15	25
Estimated future employer contributions in 2020		15	25
Estimated future employer contributions in 2021		15	$ 15
Estimated future employer contributions in 2022 | £		£ 15
Post-retirement Benefits Other Than Pension
Defined Benefit Plan Disclosure [Line Items]
Contribution to the defined benefit plans	$ 3.3

Income taxes - Narrative (Detai

Income taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 26, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	25.60%	69.80%
Domestic production deduction limitation	$ 1
Unrecognized tax benefits that would impact effective tax rate	29.9		$ 30.1
Accrued interest and penalties related to unrecognized tax benefits	1.1		$ 0.9
Estimated decrease in gross unrecognized tax positions within the next 12 months, maximum	$ 3.4
Foreign | Revenue | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration percentage (over 50%)			50.00%

Supplemental equity informati39

Supplemental equity information - Equity Activity (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	$ 1,017,395	$ 856,761
Comprehensive income:
Net loss	(377)	(2,079)
Other comprehensive income	19,875	12,341
Comprehensive income	19,498	10,262
Dividends declared	(17,935)	(18,177)
Stock-based compensation	4,652	5,125
Other activity	(5,158)	(3,434)
Ending Balance	$ 1,018,452	$ 850,537
Common Stock
Comprehensive income:
Shares issued during period	1.1	0.7

Supplemental equity informati40

Supplemental equity information - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 1,017,395	$ 856,761
Other comprehensive income, net of tax	19,875	12,341
Ending Balance	1,018,452	850,537
Retirement Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(1,000,790)	(1,183,196)
Other comprehensive income (loss) before reclassifications	(10,868)	(5,385)
Amounts reclassified from accumulated other comprehensive loss	11,369	11,898
Other comprehensive income, net of tax	501	6,513
Ending Balance	(1,000,289)	(1,176,683)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	344,273	300,284
Other comprehensive income (loss) before reclassifications	19,374	5,828
Amounts reclassified from accumulated other comprehensive loss	0	0
Other comprehensive income, net of tax	19,374	5,828
Ending Balance	363,647	306,112
Total
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(656,517)	(882,912)
Other comprehensive income (loss) before reclassifications	8,506	443
Amounts reclassified from accumulated other comprehensive loss	11,369	11,898
Other comprehensive income, net of tax	19,875	12,341
Ending Balance	$ (636,642)	$ (870,571)

Supplemental equity informati41

Supplemental equity information - Reclassifications Out of Accumulated Other Comprehensive Loss (Details) - Reclassification out of Accumulated Other Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Net Prior Service Credit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, before tax	$ (404)	$ 752
Actuarial Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, before tax	15,476	17,745
Retirement Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications, before tax	15,072	18,497
Income tax effect	(3,703)	(6,599)
Total reclassifications, net of tax	$ 11,369	$ 11,898

Fair value measurement - Narrat

Fair value measurement - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 20.8	$ 18.9

Commitments, contingencies an43

Commitments, contingencies and other matters - Narrative (Details)	1 Months Ended
	Jan. 31, 2014USD ($)
Minimum
Loss Contingencies [Line Items]
Statutory penalty per incident	$ 500
Maximum
Loss Contingencies [Line Items]
Statutory penalty per incident	$ 1,500

Loss per share - Narrative (Det

Loss per share - Narrative (Details) - $ / shares shares in Thousands	May 08, 2018	Feb. 28, 2018	Mar. 31, 2018	Mar. 26, 2017
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted average number of shares outstanding - basic			112,756	113,495
Weighted average number of shares outstanding - diluted			112,756	113,495
Common stock equivalents excluded from computation of diluted loss per share			3,095	1,778
Dividend declared per common share (in dollars per share)		$ 0.16
Subsequent Event
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividend declared per common share (in dollars per share)	$ 0.16

Segment reporting - Narrative (

Segment reporting - Narrative (Details)	3 Months Ended
	Mar. 31, 2018segment
Publishing
Segment Reporting Information [Line Items]
Number of operating segments	2

Segment reporting (Details)

Segment reporting (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Segment Reporting Information [Line Items]
Circulation	$ 266,586	$ 283,286
Total operating revenues	722,951	773,457
Operating Segments
Segment Reporting Information [Line Items]
Advertising - external sales	399,525	435,515
Advertising - intersegment sales	0
Circulation	266,586	283,286
Other - external sales	56,840	54,656
Other - intersegment sales	0
Total operating revenues	722,951	773,457
Adjusted EBITDA	55,068	69,681
Operating Segments | Publishing
Segment Reporting Information [Line Items]
Advertising - external sales	314,223	365,085
Advertising - intersegment sales	12,767
Circulation	266,586	283,286
Other - external sales	43,678	46,553
Other - intersegment sales	1,406
Total operating revenues	638,660	694,924
Adjusted EBITDA	77,758	91,664
Operating Segments | ReachLocal
Segment Reporting Information [Line Items]
Advertising - external sales	85,302	70,482
Advertising - intersegment sales	0
Circulation	0	0
Other - external sales	11,186	7,083
Other - intersegment sales	0
Total operating revenues	96,488	77,565
Adjusted EBITDA	6,209	3,146
Corporate
Segment Reporting Information [Line Items]
Advertising - external sales	0	(52)
Advertising - intersegment sales	0
Circulation	0	0
Other - external sales	1,976	1,020
Other - intersegment sales	0
Total operating revenues	1,976	968
Adjusted EBITDA	(28,899)	(25,129)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Advertising - external sales	0	0
Advertising - intersegment sales	(12,767)
Circulation	0	0
Other - external sales	0	0
Other - intersegment sales	(1,406)
Total operating revenues	(14,173)	0
Adjusted EBITDA	$ 0	$ 0

Segment reporting - Reconciliat

Segment reporting - Reconciliation of EBITDA to Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 26, 2017
Segment Reporting [Abstract]
Net loss	$ (377)	$ (2,079)
Benefit for income taxes	(129)	(5,030)
Interest expense	4,478	4,255
Other non-operating items, net	(4,311)	3,887
Operating income (loss)	(339)	1,033
Depreciation and amortization	40,252	46,817
Restructuring costs	9,299	12,551
Asset impairment charges	3,756	3,778
Acquisition-related items	924	1,023
Other items	$ 1,176	$ 4,479

Subsequent events - Narrative (

Subsequent events - Narrative (Details) - Senior Notes - Convertible Debt - Subsequent Event $ in Millions	Apr. 09, 2018USD ($)
Subsequent Event [Line Items]
Debt, stated percentage	4.75%
Aggregate principal amount	$ 175
Additional aggregate principal	26.3
Convertible aggregate principal value	201.3
Proceeds from debt	$ 195
Conversion ratio	82.4572