Gannett Chief: We Know How to Manage Through Bad Times

By: E&P Staff Craig Dubow, chairman and CEO of Gannett, spoke to investors this morning about the progress of the company during the UBS media and communications conference in New York.

In a statement, Dubow said, "Our philosophy and operating premise is that we have been in bad times before and we know how to manage through them. We are doing that aggressively now, while continuing to execute on our strategic plan. We believe these steps will prepare us for the return of the economy."

Gannett recently shed some 2,000 jobs its latest round of cuts.

The company presented its operating assumptions for 2009, excluding USA Today, USA Weekend and Newsquest. Newsprint costs are expected to decline in the mid-teens, and total headcount should be down in the low teens.

At USA Today, Gannett is raising advertising rates in the mid-single digit range in 2009. Headcount is expected to be down in the mid-single digits.