Gannett (GCI) Adds New Director; Board Approves $150M Buyback Program

Gannett (NYSE: GCI) announced that Stephen W. Coll has been elected to its Board of Directors, effective immediately. Mr. Coll is the Dean of the Graduate School of Journalism for Columbia University in New York and is also a contributor to The New Yorker magazine. Previously Mr. Coll served as President of New America Foundation, a public policy institute and think tank in Washington, DC. Mr. Coll spent a large part of his career with the Washington Post as a writer, South Asia bureau chief and managing editor.

“Steve is a well-known and respected journalist and winner of two Pulitzer Prizes. The Company is pleased to have someone who shares our passion for journalism join the Board of Gannett,” said Robert J. Dickey, President and Chief Executive Officer of Gannett.

Also today, the Company announced that the Board of Directors declared a quarterly cash dividend of $0.16 per share of common stock, payable on October 1, 2015 to shareholders of record at the close of business on September 4, 2015.

This is the first quarterly dividend declared since the spin-off of the Company from its former parent on June 29, 2015.

The Company also announced that the Board of Directors approved the previously announced $150 million, three-year common share buyback program. “We are pleased that the Board has acted quickly to approve this program and expect to use the repurchase program opportunistically along with the dividend to meet the Board’s commitment to deliver direct returns to shareholders,” Dickey said.

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