Founded in 1906 by Frank Gannett in Elmira, New York
Headquarters relocated to New York City in 2024
2024 Revenue: $2.51 billion
Approximately 21,000 employees
Publishes USA TODAY and 250+ daily newspapers
Gannett Co., Inc. operates as the largest newspaper publisher in the United States. The company publishes USA TODAY along with local media brands across more than 40 U.S. states and over 120 local media brands in the United Kingdom through its Newsquest subsidiary.
The company’s portfolio includes LocaliQ, a suite of digital business and marketing solutions. USA TODAY NETWORK Ventures operates as one of the largest media-owned events businesses in the country. Gannett delivers news through digital platforms, daily and weekly newspapers, and digital marketing services under the LocaliQ brand.
Gannett Co. History
The Gannett story spans more than a century of American media evolution. From a single newspaper in upstate New York to the nation’s largest newspaper publisher, the company has navigated the transformation of news consumption from print to digital.
Gannett Co. Founders
Frank Ernest Gannett
Founded the company in 1906 after purchasing a half-interest in the Elmira Gazette. Known as “The Great Hyphenator” for his strategy of merging struggling newspapers into profitable operations. He built an empire of 22 newspapers, 4 radio stations, and 3 television stations by the time of his death in 1957.
Erwin Davenport
Business partner who joined Frank Gannett in the early acquisitions. He focused on advertising sales while Gannett handled the news operations. Together they raised $250,000 to acquire Rochester newspapers in 1918, establishing the foundation for national expansion.
Gannett Co. Revenue
Gannett generated $2.51 billion in revenue during 2024. This represented a 5.79 percent decrease from the previous year as the company continues navigating the transition from print to digital advertising.
Revenue has declined steadily since the 2019 merger with GateHouse Media as the combined company works to reduce costs and pivot toward digital growth strategies.
Gannett Co. Marketcap
Gannett has a market capitalization of approximately $588 million as of late 2025. The company trades on the New York Stock Exchange under ticker symbol GCI.
Market cap has declined significantly from the post-merger peak in 2020 as investors remain cautious about the newspaper industry's long-term prospects despite the company's digital transformation efforts.
Gannett Co. Acquisitions
Gannett expanded through strategic acquisitions throughout its history. The company pursued growth by acquiring newspapers, television stations, and digital marketing companies to strengthen its media presence across the United States.
The 1979 acquisition of Combined Communications Corp. added 17 television stations and an outdoor advertising division to the portfolio. This deal expanded Gannett beyond newspapers into broadcasting, similar to how CBS Corporation built its media empire through diversification.
In 2013, Gannett acquired Belo Corporation for $1.5 billion. This purchase added 20 television stations and made Gannett the fourth largest television broadcaster in the country. The London Broadcasting Company acquisition in 2014 brought six additional stations in Texas markets including Waco, Tyler, Corpus Christi, and Beaumont.
The most significant transaction came in 2019 when New Media Investment Group merged GateHouse Media with Gannett. Apollo Global Management funded the $1.4 billion acquisition, creating the largest newspaper publisher in the United States with over 250 daily publications. The combined company retained the Gannett name and Virginia headquarters, unlike the restructuring seen at Time Warner during its various mergers.
Digital acquisitions included ReachLocal, SweetIQ, and WordStream, which positioned Gannett as a provider of advertising and marketing solutions for local businesses. These purchases helped diversify revenue streams beyond traditional print advertising, a strategy employed by many media companies including Comcast Corporation.
Gannett Co. Competitors
Gannett competes with traditional newspaper publishers and digital media platforms. The company faces pressure from declining print advertising revenue while building digital subscription and marketing services businesses.
| Company | Headquarters | Primary Business |
|---|---|---|
| The New York Times Company | New York, NY | National newspaper, digital subscriptions |
| News Corp | New York, NY | Global media, Wall Street Journal |
| Tribune Publishing | Chicago, IL | Regional newspapers |
| McClatchy Company | Sacramento, CA | Regional newspapers |
| Hearst Communications | New York, NY | Magazines, newspapers, broadcasting |
| Lee Enterprises | Davenport, IA | Regional newspapers |
| Advance Publications | Staten Island, NY | Newspapers, magazines, digital media |
| E.W. Scripps Company | Cincinnati, OH | Television stations, newspapers |
| TEGNA | Tysons, VA | Television broadcasting |
| Sinclair Broadcast Group | Hunt Valley, MD | Television stations |
FAQs
Who founded Gannett Co.?
Frank Gannett founded the company in 1906 when he purchased a half-interest in the Elmira Gazette in New York. His partner Erwin Davenport helped expand operations through strategic newspaper acquisitions.
What is Gannett's most famous publication?
USA TODAY is Gannett's flagship publication. Launched in 1982, it became the first national general-interest daily newspaper in the United States and reaches millions of readers daily.
When did Gannett merge with GateHouse Media?
The merger completed in November 2019. New Media Investment Group acquired Gannett for $1.4 billion, creating the largest newspaper publisher in the United States with over 250 daily newspapers.
What is LocaliQ?
LocaliQ is Gannett's digital marketing solutions platform. The service provides marketing automation, AI-driven advertising optimization, and customizable reporting tools for local and national businesses.
Is Gannett changing its name?
Yes, the company announced in November 2025 it would rename to USA Today Co. This rebranding aligns the corporate identity with its flagship national publication.