Turn OFF Gannett!
As one of the largest media conglomerates in the world, Gannett owns newspapers, websites and television stations throughout every major market of the US. According to Gannett's website, they reach well over 100 million people per month!
In addition to KSDK-TV, Gannett owns or operates 40 television stations holding on to 30% of the US Population with their programming being seen in 35 million homes. Just this past fall, Gannett purchased Belo Corporation for a ground breaking $2.2 Billion, increasing not only their portfolio but their income and audience reach. Since the takeover of Belo, Gannett's stock price has been hovering at around $28 per share, providing an amazing return for Gannett's investors. In addition to an overall increase in stock price, investors expect to see an earnings growth of over 30%. The industry average today is less than 1%.
According to DailyKOS.com, Gannett's Definitive Proxy Statement from a few years ago showed that the CEO, Gracia Martore, made a whopping $8.4 Million in salary and bonuses. During that time, Ms. Martore was going through the company laying off thousands due to the so-called bad economy. In addition to hard working men and women losing their job, Ms Martore also asked for unpaid furloughs at every television station and newspaper. According to Daily KOS, "During the time in which Ms. Martore's compensation increased by nearly $4 million, Gannett reduced the number of people employed in its newspaper division by 2,800."
An obvious sign that not only is Gannett making excellent profit each quarter, but the forecast for the company is even better than expected. So why then do they insist on taking away the rights of the hard working men and women here in our hometown?