TEGNA (TGNA) 10-K 24 Feb 10 2009 FY Annual report Financial data

Document and Company Informatio

Document and Company Information (USD $)
	12 Months Ended Dec. 27, 2009	Jan. 31, 2010	Jun. 26, 2009
Document and Company Information [Abstract]
Entity Registrant Name	GANNETT CO INC /DE/
Entity Central Index Key	0000039899
Document Type	10-K
Document Period End Date	2009-12-27
Amendment Flag	false
Current Fiscal Year End Date	--12-27
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$874,868,691
Entity Common Stock, Shares Outstanding (actual numbers)		237,356,592

Consolidated Balance Sheets

Consolidated Balance Sheets (USD $)
In Thousands	Dec. 27, 2009	Dec. 28, 2008
Current assets
Cash and cash equivalents	$98,795	$98,949
Trade receivables, less allowance for doubtful receivables of $46,255 and $59,008, respectively	759,934	846,590
Other receivables	20,557	58,399
Inventories	63,752	121,484
Deferred income taxes	19,577	29,386
Prepaid expenses and other current assets	86,427	91,136
Total current assets	1,049,042	1,245,944
Property, plant and equipment
Land	203,937	218,260
Buildings and improvements	1,426,150	1,454,303
Machinery, equipment and fixtures	2,782,595	2,891,966
Construction in progress	16,177	42,834
Total	4,428,859	4,607,363
Less accumulated depreciation	(2,457,041)	(2,385,869)
Net property, plant and equipment	1,971,818	2,221,494
Intangible and other assets
Goodwill	2,854,247	2,872,888
Indefinite-lived and amortizable intangible assets, less accumulated amortization of $170,182 and $135,468, respectively	565,610	582,691
Deferred income taxes	302,360	460,567
Investments and other assets	405,355	413,230
Total intangible and other assets	4,127,572	4,329,376
Total assets	7,148,432	7,796,814
Accounts payable
Trade	216,721	287,690
Other	35,864	36,883
Accrued liabilities
Compensation	143,182	191,019
Interest	25,281	27,432
Other	201,711	250,271
Dividends payable	9,703	91,465
Income taxes	45,085	0
Deferred income	222,556	272,381
Total current liabilities	900,103	1,157,141
Income taxes	206,115	227,067
Long-term debt	3,061,951	3,816,942
Postretirement medical and life insurance liabilities	185,433	217,143
Pension liability	708,133	882,511
Other long-term liabilities	260,918	248,482
Total liabilities	5,322,653	6,549,286
Redeemable noncontrolling interest	78,304	72,840
Gannett Co., Inc. shareholders' equity
Preferred stock, par value $1: Authorized, 2,000,000 shares: Issued, none	0	0
Common stock, par value $1: Authorized, 800,000,000 shares: Issued, 324,418,632 shares	324,419	324,419
Additional paid-in capital	629,714	743,199
Retained earnings	6,324,586	6,006,753
Accumulated other comprehensive loss	(316,832)	(469,252)
Shareholders' Equity before Treasury stock	6,961,887	6,605,119
Less Treasury stock, 87,261,969 shares and 96,295,239 shares, respectively, at cost	(5,357,962)	(5,549,237)
Total Gannett Co., Inc. shareholders' equity	1,603,925	1,055,882
Noncontrolling interests	143,550	118,806
Total equity	1,747,475	1,174,688
Total liabilities, redeemable noncontrolling interest and equity	$7,148,432	$7,796,814

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data	Dec. 27, 2009	Dec. 28, 2008
Current assets
Allowance for doubtful receivables	$46,255	$59,008
Intangible and other assets
Accumulated amortization on Indefinite-lived and amortizable intangible assets	$170,182	$135,468
Gannett Co., Inc. shareholders' equity
Preferred stock, par value	1	1
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	0	0
Common stock, par value	1	1
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	324,418,632	324,418,632
Treasury stock, shares	87,261,969	96,295,239

Consolidated Statements of Inco

Consolidated Statements of Income (Loss) (USD $)
In Thousands, except Per Share data	12 Months Ended Dec. 27, 2009	12 Months Ended Dec. 28, 2008	12 Months Ended Dec. 30, 2007
Net operating revenues
Publishing advertising	$2,966,301	$4,145,592	$4,937,159
Publishing circulation	1,166,984	1,216,637	1,252,356
Digital	586,174	281,378	70,347
Broadcasting	631,085	772,533	789,297
All other	262,449	351,510	390,301
Total	5,612,993	6,767,650	7,439,460
Operating expenses
Cost of sales and operating expenses, exclusive of depreciation	3,304,784	4,012,727	4,164,083
Selling, general and administrative expenses, exclusive of depreciation	1,207,313	1,277,962	1,270,090
Depreciation	209,826	230,987	246,275
Amortization of intangible assets	32,983	31,211	36,086
Facility consolidation and asset impairment charges (see Notes 3 and 4)	132,904	7,976,418	72,030
Total	4,887,810	13,529,305	5,788,564
Operating income (loss)	725,183	(6,761,655)	1,650,896
Non-operating (expense) income
Equity income (loss) in unconsolidated investees, net (see Notes 3 and 6)	3,927	(374,925)	40,693
Interest expense	(175,748)	(190,845)	(259,825)
Other non-operating items	22,799	28,430	18,648
Total	(149,022)	(537,340)	(200,484)
Income (loss) before income taxes	576,161	(7,298,995)	1,450,412
Provision (benefit) for income taxes	193,800	(658,400)	473,300
Income (loss) from continuing operations	382,361	(6,640,595)	977,112
Income from the operation of discontinued operations, net of tax	0	0	6,221
Gain on disposal of newspaper businesses, net of tax	0	0	73,814
Net income (loss)	382,361	(6,640,595)	1,057,147
Net income attributable to noncontrolling interests	(27,091)	(6,970)	(1,535)
Net income (loss) attributable to Gannett Co., Inc.	$355,270	($6,647,565)	$1,055,612
Earnings (loss) from continuing operations per share - basic	1.52	-29.11	4.18
Earnings from discontinued operations
Discontinued operations per share - basic	$0	$0	0.03
Gain on disposal of newspaper businesses per share - basic	$0	$0	0.32
Net income (loss) per share - basic	1.52	-29.11	4.53
Earnings (loss) from continuing operations per share - diluted	1.51	-29.11	4.17
Earnings from discontinued operations
Discontinued operations per share - diluted	$0	$0	0.03
Gain on disposal of newspaper businesses per share - diluted	$0	$0	0.32
Net income (loss) per share - diluted	1.51	-29.11	4.52

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (USD $)
In Thousands	12 Months Ended Dec. 27, 2009	12 Months Ended Dec. 28, 2008	12 Months Ended Dec. 30, 2007
Cash flows from operating activities
Net income (loss)	$382,361	($6,640,595)	$1,057,147
Adjustments to reconcile net income (loss) to operating cash flows:
Debt exchange gain	(42,746)	0	0
Gain on sale of discontinued operations, net of tax	0	0	(73,814)
Taxes paid on gain on sale of discontinued operations	0	0	(134,932)
Depreciation	209,826	230,987	249,039
Amortization of intangible assets	32,983	31,211	36,086
Facility consolidation and asset impairment charges (see Notes 3 and 4)	160,939	7,976,418	72,030
Stock-based compensation - equity awards	25,373	22,646	29,082
Provision (benefit) for deferred income taxes	54,660	(816,219)	15,488
Pension (benefit) expense, net of pension contributions	(7,417)	(61,258)	20,064
Equity (income) loss in unconsolidated investees, net (see Notes 3 and 6)	(3,927)	374,925	(40,693)
Other, net, including gains on asset sales	14,668	(54,996)	(37,760)
Decrease in trade receivables	105,184	132,143	56,237
Decrease in other receivables	26,951	16,285	200,780
Decrease (increase) in inventories	56,768	(26,856)	21,943
Increase (decrease) in accounts payable	(66,765)	50,256	(35,970)
Increase (decrease) in interest and taxes payable	64,079	(151,469)	(46,070)
Decrease in deferred income	(50,300)	(24,375)	(11,311)
Change in other assets and liabilities, net	(96,057)	(43,758)	(34,883)
Net cash flow from operating activities	866,580	1,015,345	1,342,463
Cash flows from investing activities
Purchase of property, plant and equipment	(67,737)	(165,000)	(171,405)
Payments for acquisitions, net of cash acquired	(9,581)	(168,570)	(30,581)
Payments for investments	(9,674)	(46,779)	(39,963)
Proceeds from investments	20,461	29,049	43,381
Proceeds from sale of certain assets, including discontinued operations	31,908	78,541	464,157
Net cash (used for) provided by investing activities	(34,623)	(272,759)	265,589
Cash flows from financing activities
(Payments of) proceeds from borrowings under revolving credit facilities	(526,000)	1,907,000	0
Proceeds from issuance of long-term debt	492,618	280,000	1,000,000
Payments of unsecured promissory notes	0	(833,876)	(1,364,523)
Payments of unsecured fixed rate notes and other indebtedness	(680,505)	(1,628,458)	(748,099)
Dividends paid	(119,328)	(366,748)	(311,237)
Cost of common shares repurchased	0	(72,764)	(215,210)
Proceeds from issuance of common stock upon exercise of stock options	402	0	12,472
Distributions to noncontrolling interest shareholders	0	(200)	(368)
Net cash used for financing activities	(832,813)	(715,046)	(1,626,965)
Effect of currency exchange rate change	702	(5,840)	1,906
Increase (decrease) in cash and cash equivalents	(154)	21,700	(17,007)
Balance of cash and cash equivalents at beginning of year	98,949	77,249	94,256
Balance of cash and cash equivalents at end of year	$98,795	$98,949	$77,249

Consolidated Statements of Shar

Consolidated Statements of Shareholders Equity (USD $)
In Thousands	Common stock $1 par value	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Treasury stock	Noncontrolling Interests	Total
Balance at Dec. 31, 2006	$324,419	$685,900	$12,337,041	$306,298	($5,271,395)	$1,725	$8,383,988
Net income (loss)			1,055,612			1,535	1,057,147
Foreign currency translation adjustment				78,230			78,230
Interest rate swap				(8,523)			(8,523)
Pension and other postretirement benefit liability adjustment, net of tax provision (benefit) of $39,094, $315,832, and $74,051 respectively				54,886			54,886
Other						(2,920)	(2,920)
Dividends declared, 2007: $1.42 per share, 2008: $1.60 per share, 2009: $0.16 per share			(331,010)				(331,010)
Adjustment to initially apply FIN No. 48			(42,500)				(42,500)
Treasury stock acquired					(215,210)		(215,210)
Stock options exercised		7,493			4,557		12,050
Stock option and restricted stock compensation		29,082					29,082
Tax benefit derived from stock awards settled		422					422
Other treasury stock activity		(1,692)			3,549		1,857
Balance at Dec. 30, 2007	324,419	721,205	13,019,143	430,891	(5,478,499)	340	9,017,499
Net income (loss)			(6,647,565)			6,970	(6,640,595)
Redeemable noncontrolling interest accretion						(1,736)	(1,736)
Foreign currency translation adjustment				(421,845)			(421,845)
Interest rate swap				3,445			3,445
Pension and other postretirement benefit liability adjustment, net of tax provision (benefit) of $39,094, $315,832, and $74,051 respectively				(481,743)			(481,743)
Other						1,330	1,330
Dividends declared, 2007: $1.42 per share, 2008: $1.60 per share, 2009: $0.16 per share			(364,825)				(364,825)
Acquisitions						111,902	111,902
Treasury stock acquired					(72,764)		(72,764)
Stock option and restricted stock compensation		22,646					22,646
Other treasury stock activity		(652)			2,026		1,374
Balance at Dec. 28, 2008	324,419	743,199	6,006,753	(469,252)	(5,549,237)	118,806	1,174,688
Net income (loss)			355,270			27,091	382,361
Redeemable noncontrolling interest accretion						(5,463)	(5,463)
Foreign currency translation adjustment				60,934			60,934
Interest rate swap				5,075			5,075
Pension and other postretirement benefit liability adjustment, net of tax provision (benefit) of $39,094, $315,832, and $74,051 respectively				84,355			84,355
Other				2,056		3,116	5,172
Dividends declared, 2007: $1.42 per share, 2008: $1.60 per share, 2009: $0.16 per share			(37,437)				(37,437)
Stock options exercised		(678)			986		308
Stock option and restricted stock compensation		25,373					25,373
401(k) match		(139,919)			185,444		45,525
Tax benefit derived from stock awards settled		94					94
Other treasury stock activity		1,645			4,845		6,490
Balance at Dec. 27, 2009	$324,419	$629,714	$6,324,586	($316,832)	($5,357,962)	$143,550	$1,747,475

1_Consolidated Statements of Sh

Consolidated Statements of Shareholders Equity (Parenthetical) (USD $)
In Thousands, except Per Share data	Retained earnings	Accumulated other comprehensive income (loss)	Total
Tax provision on Pension and other postretirement benefit liability adjustment		$39,094	$39,094
Dividends declared, per share	1.42		1.42
Tax provision on Pension and other postretirement benefit liability adjustment		315,832	315,832
Dividends declared, per share	1.6		1.6
Tax provision on Pension and other postretirement benefit liability adjustment		$74,051	$74,051
Dividends declared, per share	0.16		0.16

Summary of significant accounti

Summary of significant accounting policies
	12 Months Ended Dec. 27, 2009 USD / shares
Summary of significant accounting policies [Abstract]
Summary of significant accounting policies	NOTE 1 Summary of significant accounting policies Fiscal year: The companys fiscal year ends on the last Sunday of the calendar year. The companys 2009 fiscal year ended on Dec. 27, 2009, and encompassed a 52-week period. The companys 2008 and 2007 fiscal years also encompassed 52-week periods. Subsequent events: The company has evaluated subsequent events through Feb. 24, 2010, which is the date that these financial statements have been filed with the Securities and Exchange Commission (SEC). No material subsequent events have occurred since Dec. 27, 2009, that required recognition or disclosure in these financial statements. Consolidation: The consolidated financial statements include the accounts of the company and its wholly and majority-owned subsidiaries after elimination of all significant intercompany transactions and profits. Investments in entities for which the company does not have control, but has the ability to exercise significant influence over operating and financial policies, are accounted for under the equity method. Accordingly, the companys share of net earnings and losses from these ventures is included in Equity income (loss)in unconsolidated investees, net in the Consolidated Statements of Income (Loss). Segment presentation: In the third quarter of 2008, the company began reporting a new digital segment and a separate digital revenues line in its Statements of Income (Loss). This revenue line includes only revenue from the businesses that comprise the new digital segment. It therefore includes all revenues from CareerBuilder and ShopLocal beginning with the full consolidation of these businesses in the third quarter of 2008, and revenues from PointRoll, ScheduleStar, Planet Discover and Ripple6. Revenues from PointRoll, ScheduleStar and Planet Discover had previously been reported within the publishing segment and were included in the All other revenue line in the Statement of Income. All other revenue is now comprised principally of commercial printing revenues. All periods presented reflect these reclassifications. The digital segment and the digital revenues line do not include online/digital revenues generated by web sites that are associated with the companys publishing and broadcasting operating properties. Such amounts are reflected within those segments and are included as part of publishing advertising revenues and broadcasting revenues in the Statements of Income. Accounting standards codification: In June2009, the Financial Accounting Standards Board (FASB)issued Statement of Financial Accounting Standards (SFAS)No.168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles a replacement of FASB Statement No.162. This standard establishes only two levels of U.S. generally accepted accounting principles (GAAP), authoritative and nonauthoritative. The FASB Accounting Standards Codification (the Codification) became the source of authoritative, nongovernmental GAAP, except for rules and interpretive releases of the SEC, which are sources of authoritative GAAP for SEC registrants. All other nongrandfathered, non-SEC accounting liter

Acquisitions, investments and d

Acquisitions, investments and dispositions
	12 Months Ended Dec. 27, 2009 USD / shares
Acquisitions, investments and dispositions [Abstract]
Acquisitions, investments and dispositions	NOTE 2 Acquisitions, investments and dispositions 2009: In February2009, the company purchased a minority interest in Homefinder, a leading national online marketplace connecting homebuyers, sellers and real estate professionals. In July2009, Newsquest sold one of its commercial printing businesses, Southernprint Limited. Total cash paid in 2009 for business acquisitions (principally post-acquisition consideration) and investments was $9.6million and $9.7million, respectively. 2008: On Dec. 31 2007, the first day of the companys 2008 fiscal year, the company purchased X.com, Inc. (BNQT.com), which operates a digital media group of affiliated sites covering eight different action sports including surfing, snowboarding and skateboarding. X.com is affiliated with the USA TODAY Sports brand. In February2008, the company formed QuadrantONE, a digital ad sales network, with three other large media companies. In March2008, the company purchased a minority stake in Fantasy Sports Ventures (FSV). FSV owns a set of fantasy sports content sites and manages advertising across a group of affiliated sites. In May2008, the company purchased a minority stake in Cozi Group Inc. (COZI). COZI is a free web service that helps families manage busy schedules, track shopping and to-do lists, organize household chores and stay in communication. In July2008, the company purchased a minority stake in Livestream (formerly Mogulus), a company that provides Internet broadcasting services. Also in July2008, the company increased its investment in 4INFO maintaining its approximate ownership interest. In August2008, the company purchased 100% of the outstanding shares of Pearls Review, Inc., an online nursing certification and continuing education review site. The above business acquisitions and investments did not materially affect the companys financial position or results of operations. In June2008, the company acquired from Tribune Company and The McClatchy Company their minority ownership interests in ShopLocal LLC, a leading marketing and database services company for major retailers in the U.S. The company then owned 100% of ShopLocal and began consolidating its results in the digital segment at the beginning of the third quarter of 2008. ShopLocal collaborates with PointRoll to create ads that dynamically connect retail advertisers and consumers, online and in the store. In September2008, the company acquired an additional 10% stake in CareerBuilder from Tribune Company increasing its investment to 50.8% so that it became the majority and controlling owner. Beginning in September2008, the operations of CareerBuilder have been fully consolidated and are reported in the digital segment. The related minority interest charge for CareerBuilder is reflected in Net income attributable to noncontrolling interests in the Statements of Income (Loss). In November2008, the company acquired Ripple6, Inc., a leading provider of social media services for publishers and other users. Ripple6 currently powers Gannetts MomsLikeMe.com site, which recently rolled out in 80 local markets across the country and has more than one million moms

Facility consolidation and asse

Facility consolidation and asset impairment charges
	12 Months Ended Dec. 27, 2009 USD / shares
Facility consolidation and asset impairment charges [Abstract]
Facility consolidation and asset impairment charges	NOTE 3 Facility consolidation and asset impairment charges Very difficult business conditions required the company to perform impairment tests on certain assets including goodwill, other intangible assets, other long-lived assets and investments accounted for under the equity method during 2009 and 2008. As a result, the company recorded non-cash impairment charges to reduce the book value of certain of those assets. In addition, an impairment charge was taken to reduce the value of certain publishing assets sold in 2009 to fair value less costs to sell. A summary of these charges by year is presented below: 2009 Pre-Tax After-Tax Per Share In millions except per share amounts Amount Amount(a) Amount Asset impairment and other charges Goodwill: Publishing $ 17 $ 10 $ 0.04 Digital 16 16 0.07 Total goodwill 33 26 0.11 Other intangible assets: Digital 9 5 0.02 Total other intangible assets 9 5 0.02 Property, plant and equipment: Publishing 76 47 0.20 Broadcasting 3 2 0.01 Total property, plant and equipment 79 50 0.21 Other: Publishing 7 4 0.02 Broadcasting 5 3 0.01 Total other 12 7 0.03 Total asset impairment and other charges-operations $ 133 $ 88 $ 0.37 Non-operating charges: Publishing assets sold 28 24 0.10 Equity method investments 9 7 0.03 Total charges $ 170 $ 119 $ 0.50 (a) Total amounts may not sum due to rounding. 2008 Pre-Tax After-Tax Per Share In millions except per share amounts Amount(a) Amount(a) Amount(a) Asset impairment and other charges Goodwill: Publishing $ 7,448 $ 6,812 $ 29.83 Digital 10 6 0.03 Total goodwill 7,458 6,818 29.86 Other intangible assets principally mastheads: Publishing 232 150 0.66 Digital 2 1 Total other intangible assets 233 151 0.66 Property, plant and equipment: Publishing 255 159 0.70 Broadcasting 2 1 Corporate 1 1 Total property, plant and equipment 258 161 0.70 Other: Publishing 17 11 0.05 Digital 3 2 0.01 Broadcasting 7 4 0.02 Total other 27 17 0.08 Total asset impairment and other charges-operations $ 7,

Goodwill and other intangible a

Goodwill and other intangible assets
	12 Months Ended Dec. 27, 2009 USD / shares
Goodwill and other intangible assets [Abstract]
Goodwill and other intangible assets	NOTE 4 Goodwill and other intangible assets ASC Topic 350 requires that goodwill and indefinite-lived intangible assets be tested for impairment at least annually. Recognized intangible assets that have finite useful lives are amortized over their useful lives and are subject to tests for impairment in accordance with the requirements included within ASC Topic 350. As discussed in Note 3, the company performed interim and year-end impairment tests on its goodwill and other intangible assets during 2009, and, as a result, recorded non-cash impairment charges totaling $42million. During 2008, the company recorded non-cash impairment charges totaling $7.69billion. For Publishing, goodwill impairment charges for U.K. operations were recorded in the second and fourth quarters of 2008 and totaled $2.65billion. For the companys U.S. Community Publishing division, which carried a relatively lower book goodwill basis, goodwill impairment was not indicated until the required annual testing at the end of 2008. The impairment charge at that time totaled $4.41billion. For several other stand-alone publishing businesses which are considered separate reporting units in accordance with the requirements included within ASC Topic 350, goodwill impairments were also identified at the end of 2008. These goodwill impairment charges totaled $398million. During 2008, the company determined that the carrying values of mastheads at certain properties in the U.K. and U.S., which are classified as indefinite-lived intangible assets, were not recoverable based on interim and annual impairment tests. Accordingly, the company recognized non-cash impairment charges of $176million to reduce the carrying value of these mastheads to fair value. The company calculated the fair value of mastheads using a relief-from-royalty method. The impairment charge relates to several publication mastheads in the U.S. and the U.K., and results from lower revenue expectations from these properties than were anticipated at the date they were acquired. The following table displays goodwill, indefinite-lived intangible assets, and amortizable intangible assets at Dec. 27, 2009, and Dec. 28, 2008. Accumulated In thousands of dollars Gross Amortization Net Dec. 27, 2009 Goodwill $ 2,854,247 $ $ 2,854,247 Indefinite-lived intangibles: Mastheads and trade names 110,319 110,319 Television station FCC licenses 255,304 255,304 Amortizable intangible assets: Customer relationships 311,840 141,902 169,938 Other 58,329 28,280 30,049 Total $ 3,590,039 $ 170,182 $ 3,419,857 Dec. 28, 2008 Goodwill $ 2,872,888 $ $ 2,872,888 Indefinite-lived intangibles: Mastheads and trade names 104,512 104,512 Television station FCC licenses 255,304 255,304 Amortizable intangible assets: Customer relationships

2_Consolidated statements of ca

Consolidated statements of cash flows
	12 Months Ended Dec. 27, 2009 USD / shares
Consolidated statements of cash flows [Abstract]
Consolidated statements of cash flows	NOTE 5 Consolidated statements of cash flows Cash paid in 2009, 2008 and 2007 for income taxes and for interest (net of amounts capitalized) was as follows: In thousands of dollars 2009 2008 2007 Income taxes $ 78,856 $ 306,074 $ 653,368 Interest $ 177,899 $ 188,385 $ 260,247 Interest in the amount of $216,000, $458,000 and $43,000 was capitalized in 2009, 2008 and 2007, respectively. In connection with the acquisition of ScheduleStar LLC in October2007 and Ripple6 in November2008, the company recorded liabilities of $7.2million and $1.8million, respectively, related to payments due to the sellers in future years.

Investments

Investments
	12 Months Ended Dec. 27, 2009 USD / shares
Investments [Abstract]
Investments	NOTE 6 Investments The companys investments include several that are accounted for under the equity method. Principal among these are the following: % Owned Ponderay Newsprint Company 13.50 % California Newspapers Partnership 19.49 % ShermansTravel 19.67 % Classified Ventures 23.60 % Cozi 23.30 % QuadrantONE 25.00 % 4INFO 27.51 % Fantasy Sports Venture 30.33 % Livestream (formerly Mogulus) 31.10 % Homefinder.com 33.33 % Topix 33.71 % Texas-New Mexico Newspapers Partnership 40.64 % Detroit Weekend Direct 50.00 % Tucson Newspaper Partnership 50.00 % Metromix 51.06 % The aggregate carrying value of equity investments at Dec. 27, 2009, was $189million. Certain differences exist between the companys investment carrying value and the underlying equity of the investee companies principally due to fair value measurement at the date of investment acquisition and due to impairment charges recorded by the company for certain of the investments. The aggregate amount of pretax earnings (losses)recorded by the company for its investments accounted for under the equity method was $3.9million, $(374.9) million, and $40.7million for 2009, 2008, and 2007, respectively. The companys net equity income in unconsolidated investees for 2009 includes $9 million of impairment charges related to certain digital business investments. The 2008 amount is inclusive of non-cash impairment charges of $382million primarily related to the carrying value of California Newspapers Partnership and Texas-New Mexico Newspapers Partnership. The company also recorded revenue related to CareerBuilder (fully consolidated since Sept. 1, 2008) and Classified Ventures products for online advertisements placed on its newspaper publishing affiliated web sites. Such amounts totaled approximately $135million for 2009, $186million for 2008 and $209million for 2007. These revenues are recorded within Publishing segment advertising revenue.

Long-term debt

Long-term debt
	12 Months Ended Dec. 27, 2009 USD / shares
Long-term debt [Abstract]
Long-term debt	NOTE 7 Long-term debt The long-term debt of the company is summarized below: In thousands of dollars Dec. 27, 2009 Dec. 28, 2008 Unsecured floating rate notes paid May2009 $ $ 632,205 Unsecured notes bearing fixed rate interest at 5.75% due June2011 432,648 498,464 Unsecured floating rate term loan due July2011 230,000 280,000 Borrowings under revolving credit agreements expiring March2012 1,381,000 1,907,000 Unsecured notes bearing fixed rate interest at 6.375% due April2012 306,260 499,269 Unsecured notes bearing fixed rate interest at 8.75% due November2014 246,304 Unsecured notes bearing fixed rate interest at 10% due June2015 56,684 Unsecured notes bearing fixed rate interest at 10% due April2016 162,531 Unsecured notes bearing fixed rate interest at 9.375% due November2017 246,524 Other indebtedness 4 Total long-term debt $ 3,061,951 $ 3,816,942 Total average debt outstanding in 2009 and 2008 was $3.6billion and $4.0billion, respectively. The weighted average interest rate on all debt was 4.5% for 2009 and 4.6% for 2008. During 2009, the company completed transactions in May and October to improve its debt maturity profile. In May2009, the company completed a private exchange offer related to its 5.75% fixed rate notes due June2011 and its 6.375% fixed rate notes due April2012. The company exchanged approximately $67million in principal amount of new 10% senior notes due 2015 for approximately $67million principal amount of the 2011 notes, and approximately $193million in principal amount of new 10% senior notes due 2016 for approximately $193million principal amount of the 2012 notes. The new 2015 notes and the new 2016 notes (together, the Notes) are senior unsecured obligations and are guaranteed by the company subsidiaries providing guarantees under the revolving credit agreements and the term loan agreement as described below. The Notes and the subsidiary guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the Securities Act), or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. In connection with the exchange transactions and in accordance with the modifications and extinguishments requirements of ASC Topic 470, Debt, the company recorded a gain of approximately $42.7million which was classified in Other non-operating items in the Statement of Income for the second quarter of 2009. This gain resulted from recording the Notes at fair value as of the time of the exchange and extinguishing the old notes at their historical book values. Fair value of the Notes was based on their trading prices on and shortly after the exchange date. The discount created by recording the Notes at fair value instead of face value is being amortized over the term of the loans to interest expense. In October2009, the company completed a private placement offering of $250million

Retirement plans

Retirement plans
	12 Months Ended Dec. 27, 2009 USD / shares
Retirement plans [Abstract]
Retirement plans	NOTE 8 Retirement plans The company and its subsidiaries have various retirement plans, including plans established under collective bargaining agreements. The companys principal retirement plan is the Gannett Retirement Plan (GRP). As described more fully below, substantially all participants had their benefits under this plan frozen effective Aug. 1, 2008. Prior to this, benefits under the GRP were based on years of service and final average pay. The disclosure tables below also include the assets and obligations of the Newsquest Pension Plan in the U.K., certain collectively bargained plans, the Gannett Supplemental Retirement Plan (SERP)and a frozen plan for the companys Board of Directors. The company uses a Dec. 31 measurement date for its retirement plans. In June2008, the Board of Directors approved amendments to each of (i)the GRP; (ii)the SERP; (iii)the Gannett 401(k) Savings Plan (401(k) Plan); and (iv)the Gannett Deferred Compensation Plan (DCP). The amendments were designed to improve the 401(k) Plan while reducing the amount and volatility of future pension expense. As a result of the amendments to the GRP and SERP, most participants in these plans had their benefits frozen as of Aug. 1, 2008. Participants whose GRP and, if applicable, SERP benefits were frozen will have their frozen benefits periodically increased by a cost of living adjustment until benefits commence. Effective Aug. 1, 2008, most participants whose benefits were frozen under the GRP and, if applicable, the SERP receive higher matching contributions under the 401(k) Plan. Under the new formula, the matching contribution rate generally increased from 50% of the first 6% of compensation that an employee elects to contribute to the plan to 100% of the first 5% of contributed compensation. The company also makes additional employer contributions to the 401(k) Plan on behalf of certain long-service employees. The DCP was amended to provide for Gannett contributions on behalf of certain employees whose benefits under the 401(k) Plan are capped by IRS rules. As a result of the amendments to freeze most benefit accruals in the GRP and the SERP, the company recognized a net pre-tax pension curtailment gain of $46.5million in the second quarter of 2008 in accordance with the Defined Benefit Plans-Pension subtopic of ASC Topic 715, Compensation-Retirement Benefits. During the first quarter of 2009, the company reached an agreement with one of its unions for a complete withdrawal from the unions underfunded pension plan and release from any future obligations with respect thereto. Under the agreement, the company made a settlement payment of $7.3million in May2009 and will make a payment of $7.7million in 2010. As a result of this agreement, the company recognized a pretax settlement gain of $39.8 million in the first quarter of 2009. The companys pension costs, which include costs for its qualified, non-qualified and union plans, are presented in the following table: In thousands of dollars 2009 2008 2007 Service cost benefits earned during the period $ 14,439 $ 64,563 $ 100,213 Intere

Postretirement benefits other t

Postretirement benefits other than pensions
	12 Months Ended Dec. 27, 2009 USD / shares
Postretirement benefits other than pensions [Abstract]
Postretirement benefits other than pensions	NOTE 9 Postretirement benefits other than pensions The company provides health care and life insurance benefits to certain retired employees who meet age and service requirements. Most of the companys retirees contribute to the cost of these benefits and retiree contributions are increased as actual benefit costs increase. The cost of providing retiree health care and life insurance benefits is actuarially determined and accrued over the service period of the active employee group. The companys policy is to fund benefits as claims and premiums are paid. The company uses a Dec. 31 measurement date for these plans. Postretirement benefit cost for health care and life insurance included the following components: In thousands of dollars 2009 2008 2007 Service cost benefits earned during the period $ 1,405 $ 1,634 $ 1,906 Interest cost on net benefit obligation 13,339 14,013 13,817 Amortization of prior service credit (15,689 ) (15,560 ) (15,560 ) Amortization of actuarial loss 4,695 4,752 5,180 Net periodic postretirement benefit cost $ 3,750 $ 4,839 $ 5,343 Special termination benefit charge $ $ 1,307 $ 356 The table below provides a reconciliation of benefit obligations and funded status of the companys postretirement benefit plans: In thousands of dollars Dec. 27, 2009 Dec. 28, 2008 Change in benefit obligations Net benefit obligations at beginning of year $ 244,190 $ 242,610 Service cost 1,405 1,634 Interest cost 13,339 14,013 Plan participants contributions 10,429 13,621 Plan amendments (19,853 ) (957 ) Actuarial (gain)loss (7,799 ) 9,029 Special termination benefits 1,307 Gross benefits paid (35,856 ) (40,100 ) Federal subsidy on benefits paid 2,358 3,033 Net benefit obligations at end of year $ 208,213 $ 244,190 Change in plan assets Fair value of plan assets at beginning of year $ $ Employer contributions 25,427 26,479 Plan participants contributions 10,429 13,621 Gross benefits paid (35,856 ) (40,100 ) Fair value of plan assets at end of year $ $ Benefit obligation at end of year $ 208,213 $ 244,190 Accrued postretirement benefit cost: Current $ 22,780 $ 27,047 Noncurrent $ 185,433 $ 217,143 Net actuarial losses recognized in accumulated other comprehensive losswere $44.3 million in 2009 and $57.1million in 2008. Prior service credits recognized in accumulated other comprehensive losswere $82.3million in 2009 and $78.1million in 2008. The actuarial loss and prior service credit estimated to be amortized from accumulated other comprehensive lossinto net periodic benefit cost in 2010 are $4.9million and $(19.4)million, respectively. Other changes in plan assets and benefit obligat

Income taxes

Income taxes
	12 Months Ended Dec. 27, 2009 USD / shares
Income taxes [Abstract]
Income taxes	NOTE 10 Income taxes The provision (benefit)for income taxes on income from continuing operations consists of the following: In thousands of dollars 2009 Current Deferred Total Federal $ 92,043 $ 53,566 $ 145,609 State and other 24,202 9,954 34,156 Foreign 22,895 (8,860 ) 14,035 Total $ 139,140 $ 54,660 $ 193,800 In thousands of dollars 2008 Current Deferred Total Federal $ 196,648 $ (636,841 ) $ (440,193 ) State and other (25,236 ) (152,567 ) (177,803 ) Foreign (13,593 ) (26,811 ) (40,404 ) Total $ 157,819 $ (816,219 ) $ (658,400 ) In thousands of dollars 2007 Current Deferred Total Federal $ 358,018 $ 9,434 $ 367,452 State and other 42,240 12,529 54,769 Foreign 57,554 (6,475 ) 51,079 Total $ 457,812 $ 15,488 $ 473,300 The components of income (loss)from continuing operations attributable to Gannett Co., Inc. before income taxes consist of the following: In thousands of dollars 2009 2008 2007 Domestic $ 490,578 $ (4,752,181 ) $ 1,091,725 Foreign 58,492 (2,553,784 ) 357,152 Total $ 549,070 $ (7,305,965 ) $ 1,448,877 The provision for income taxes on continuing operations varies from the U.S. federal statutory tax rate as a result of the following differences: Fiscal year 2009 2008 2007 U.S. statutory tax rate 35.0 % 35.0 % 35.0 % Increase (decrease)in taxes resulting from: Asset impairments 1.4 (27.8 ) State/other income taxes net of federal income tax benefit 3.5 3.0 2.5 Statutory rate differential and permanent differences in earnings in foreign jurisdictions (3.2 ) (2.0 ) (2.8 ) Other, net (1.4 ) 0.8 (2.0 ) Effective tax rate 35.3 % 9.0 % 32.7 % Absent the pre-tax and tax effect of facility consolidation and asset impairment charges, workforce restructuring, and certain gains in 2009 and 2008, the companys effective tax rate would have been 33.6% for 2009 and 28.7% for 2008. In addition to the income tax provision presented above for continuing operations, the company also recorded federal and state income taxes payable on discontinued operations in 2007. Taxes provided on the earnings from discontinued operations include amounts reclassified from previously reported income tax provisions and totaled $4million for 2007, covering U.S. federal and state income taxes and representing an effective rate of 39%. Also included in discontinued operations for 2007 is a recognized gain of $73.8million, which is net of tax. Taxes provided on the

Shareholders Equity

Shareholders Equity
	12 Months Ended Dec. 27, 2009 USD / shares
Shareholders' Equity [Abstract]
SHAREHOLDERS' EQUITY	NOTE 11 SHAREHOLDERS EQUITY Capital stock and earnings per share The companys earnings (loss)per share (basic and diluted) for 2009, 2008 and 2007 are presented below: In thousands, except per share amounts 2009 2008 2007 Net income (loss)attributable to Gannett Co., Inc $ 355,270 $ (6,647,565 ) $ 1,055,612 Weighted average number of common shares outstanding (basic) 233,683 228,345 233,148 Effect of dilutive securities Stock options 723 300 Restricted stock 1,117 292 401(k) employer match 504 Weighted average number of common shares outstanding (diluted) 236,027 228,345 233,740 Earnings (loss)per share (basic) $ 1.52 $ (29.11 ) $ 4.53 Earnings (loss)per share (diluted) $ 1.51 $ (29.11 ) $ 4.52 The diluted earnings per share amounts exclude the effects of approximately 22.3million stock options outstanding for 2009, 27.1million for 2008 and 27.3million for 2007, as their inclusion would be antidilutive. The diluted earnings per share amount for 2008 also excludes 2.2million restricted stock units. Share repurchase program In February2004, the company announced the reactivation of its existing share repurchase program that was last utilized in February2000. On July25, 2006, the authorization to repurchase shares was increased by $1billion. During 2007, 4.6million shares were purchased under the program for $215.2million. During 2008, 2.3million shares were purchased under the program for $72.8million. There were no shares purchased under the program during 2009. The shares may be repurchased at managements discretion, either in the open market or in privately negotiated block transactions. Managements decision to repurchase shares will depend on price, availability and other corporate developments. Purchases may occur from time to time and no maximum purchase price has been set. While there is no expiration date for the repurchase program, the companys Board of Directors reviews the share repurchase authorization annually, the last such review having occurred in October2009. Certain of the shares previously acquired by the company have been reissued in settlement of employee stock awards. At this time, the company does not anticipate repurchasing its shares for the near term. Equity-based awards In May2001, the companys shareholders approved the adoption of the Omnibus Incentive Compensation Plan (the Plan). The Plan, as amended, is administered by the Executive Compensation Committee of the Board of Directors and provides for the issuance of up to 32.5million shares of company common stock for awards granted on or after May7, 2001. No more than 5,000,000 of the authorized shares may be granted in the aggregate in the form of Restricted Stock, Performance Shares and/or Performance Units. The Plan provides for the granting of stock options, stock appreciation rights, restricted stock and other equity-based and cash-based awards. Awards may be granted to employees of t

Commitments, contingent liabili

Commitments, contingent liabilities and other matters
	12 Months Ended Dec. 27, 2009 USD / shares
Commitments, contingent liabilities and other matters [Abstract]
Commitments, contingent liabilities and other matters	NOTE 12 Commitments, contingent liabilities and other matters Litigation: The company and a number of its subsidiaries are defendants in judicial and administrative proceedings involving matters incidental to their business. The company does not believe that any material liability will be imposed as a result of these matters. Leases: Approximate future minimum annual rentals payable under non-cancelable operating leases, primarily real-estate related, are as follows: In thousands of dollars 2010 $ 59,311 2011 52,235 2012 43,406 2013 34,687 2014 29,480 Later years 107,007 Total $ 326,126 Total minimum annual rentals have not been reduced for future minimum sublease rentals aggregating $2.5million. Total rental costs reflected in continuing operations were $69million in 2009, $74million in 2008 and $67million in 2007. Program broadcast contracts: The company has $62million of commitments under programming contracts that include television station commitments to purchase programming to be produced in future years. Purchase obligations: The company has commitments under purchasing obligations totaling $364 million related to printing contracts, capital projects, interactive marketing agreements, wire services and other legally binding commitments. Amounts which the company is liable for under purchase orders outstanding at Dec. 27, 2009, are reflected in the Consolidated Balance Sheets as accounts payable and accrued liabilities and are excluded from the $364million. Self insurance: The company is self-insured for most of its employee medical coverage and for its casualty, general liability and libel coverage (subject to a cap above which third party insurance is in place). The liabilities are established on an actuarial basis, with the advice of consulting actuaries, and totaled $151million at the end of 2009 and $163million at the end of 2008. Other matters: In December1990, the company adopted a Transitional Compensation Plan (the Plan). The Plan provides termination benefits to key executives whose employment is terminated under certain circumstances within two years following a change in control of the company. Benefits under the Plan include a severance payment of up to three years compensation and continued life and medical insurance coverage. In connection with the purchase of ScheduleStar in 2007, the company is contingently liable for earnout payments to some previous owners, depending upon certain performance metrics which may be achieved by ScheduleStar through 2010. The minimum payment of $7.2million was reduced by payments in 2009 of approximately $4.7million. The remaining minimum payment of $2.5million has been accrued in the 2009 financial statements. In connection with CareerBuilders acquisition of certain international companies in 2007, it is contingently liable for earnout payments to previous owners, depending upon the achievement of certain performance metrics. The maximum potential payment in future years related to these acquisitions is $5.2million including $1.9million, which has been accrue

Fair value measurement

Fair value measurement
	12 Months Ended Dec. 27, 2009 USD / shares
Fair value measurement [Abstract]
Fair value measurement	NOTE 13 Fair value measurement The company measures and records in the accompanying consolidated financial statements certain assets and liabilities at fair value. ASC Topic 820, Fair Value Measurements and Disclosures, establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the companys 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 estimates and assumptions developed by the company, which reflect those that a market participant would use. The following table summarizes the financial instruments measured at fair value in the accompanying consolidated balance sheet as of Dec. 27, 2009: In thousands of dollars Fair value measurement as of Dec. 27, 2009 Level 1 Level 2 Level 3 Total Assets: Employee compensation related investments $ 21,757 $ $ $ 21,757 Sundry investments 24,800 27,202 52,002 The level 3 sundry investments are financial instruments held by CareerBuilder. During 2009, the company sold some of these instruments receiving proceeds of $1.7million and recording a gain of $0.2million. In addition, an unrealized gain of $1.2million related to these securities was recorded in the companys Consolidated Balance Sheet. The company utilized a probability-weighted discounted cash flow technique to determine the fair value of these financial instruments. The main assumptions used in the fair value calculation were the estimated coupon rate associated with the securities and the discount rate (determined based on market yields of similar taxable obligations). In December2008, the FASB issued FASB Staff Position FAS 132(R)-1, Employers Disclosures about Pensions and Other Postretirement Benefits (FSP FAS 132(R)-1), as subsequently codified in ASC Topic 715, Compensation-Retirement Benefits. The FSP amends FASB Statement No.132(R), Employers Disclosures about Pensions and Other Postretirement Benefits (FAS 132(R)) to require additional disclosures about assets held in an employers defined benefit pension or other postretirement plan. The FSP also amends Statement 132(R) to require disclosure of the level within the fair value hierarchy in which each major category of plan assets falls, using the guidance in ASC Topic 820. Additionally, employers are required to reconcile the beginning and ending balances of plan assets with fair values measured using significant unobservable inputs (Level 3). The FSP is effective for fiscal years ending after Dec. 15, 2009. The following table sets forth by level within the fair value hierarchy the fair values of the companys pension plan assets by asset category: In thousands of dollars Fair value measurement as of Dec. 27, 200

Business operations and segment

Business operations and segment information
	12 Months Ended Dec. 27, 2009 USD / shares
Business operations and segment information [Abstract]
Business operations and segment information	NOTE 14 Business operations and segment information The company has determined that its reportable segments based on its management and internal reporting structure are newspaper publishing, which is the largest segment of its operations, digital and broadcasting. The publishing segment at the end of 2009 consisted of 83 U.S. daily newspapers with affiliated online sites in 30 states and one U.S. territory, including USA TODAY, a national, general-interest daily newspaper; USATODAY.com; USA WEEKEND, a magazine supplement for newspapers; Clipper; Gannett Healthcare Group; and Army Times. The publishing segment also includes Newsquest, which is a regional newspaper publisher in the United Kingdom that includes 17 paid-for daily newspapers and more than 200weekly newspapers, magazines and trade publications. The publishing segment in the U.S. also includes nearly 650 non-daily publications, a network of offset presses for commercial printing and several smaller businesses. In the third quarter of 2008, the company began reporting a new digital segment and a separate digital revenues line in its Statements of Income (Loss). This revenue line includes only revenue from the businesses that comprise the new digital segment. It therefore includes all revenues from CareerBuilder and ShopLocal beginning with the full consolidation of these businesses in the third quarter of 2008, and revenues from PointRoll, ScheduleStar, Planet Discover and Ripple6 (from the date of its acquisition in November2008). Revenues from PointRoll, ScheduleStar and Planet Discover had previously been reported within the publishing segment and were included in the All other revenue line in the Statement of Income. All other revenue is now comprised principally of commercial printing revenues. All periods presented reflect these reclassifications. At the end of 2009, the companys broadcasting division included 23 television stations and affiliated online sites in markets with more than 20.9million households covering 18.2% of the U.S. Captivate Network is also part of the broadcasting division. The companys foreign revenues, principally from newspaper publishing businesses in the United Kingdom and CareerBuilder subsidiaries in Europe, totaled approximately $621million in 2009, $1.0 billion in 2008 and $1.2billion in 2007. The companys long-lived assets in foreign countries, principally in the United Kingdom, totaled approximately $535million at Dec. 27, 2009, $628 million at Dec. 28, 2008, and $3.7billion at Dec. 30, 2007. Separate financial data for each of the companys business segments is presented in the table that follows. The accounting policies of the segments are those described in Note 1. The company evaluates the performance of its segments based on operating income. Operating income represents total revenue less operating expenses, including depreciation, amortization of intangibles and asset impairment charges. In determining operating income by industry segment, general corporate expenses, interest expense, interest income, and other income and expense items of a non-operating nature are not considered, as such items are not allocated to

Valuation and qualifying accoun

Valuation and qualifying accounts and reserves
	12 Months Ended Dec. 27, 2009 USD / shares
Valuation and qualifying accounts and reserves [Abstract]
Valuation and qualifying accounts and reserves	Schedule Of Valuation And Qualifying Accounts Disclosure SCHEDULE II Valuation and qualifying accounts and reserves Balance at Additions/(reductions) In thousands of dollars beginning Additions charged for acquisitions/ Deductions Balance at Allowance for doubtful receivables of period to cost and expenses dispositions (2) from reserves (1) end of period Fiscal year ended Dec. 27, 2009 $ 59,008 $ 34,492 $ 213 $ (47,458 ) $ 46,255 Fiscal year ended Dec. 28, 2008 $ 36,772 $ 57,671 $ 4,080 $ (39,515 ) $ 59,008 Fiscal year ended Dec. 30, 2007 $ 38,123 $ 27,786 $ 174 $ (29,311 ) $ 36,772 (1) Consists of write-offs, net of recoveries in each year. (2) Also includes foreign currency translation adjustments in each year.