USA Today Co.

USA Today Co., Inc.

Company type	Public
Industry	Mass media
Predecessor	Gannett Co., Inc.
Founded	1 January 1923 (1923-01-01) in Rochester, New York, United States
Founder	Frank Gannett
Headquarters	New York City , United States
Area served	United States
Key people	Mike Reed (CEO)
Products	Newspapers (including USA Today), digital media
Owner	Publicly traded company
Parent	None

USA Today Co., Inc., which will be known as such starting in 2025 after previously operating under the name Gannett Co., Inc. (), is a prominent American mass media holding company based in New York City. It holds the distinction of being the largest newspaper publisher in the United States by overall daily circulation.

The company’s portfolio includes the national publication USA Today alongside numerous regional newspapers such as the Detroit Free Press, The Indianapolis Star, The Cincinnati Enquirer, The Columbus Dispatch, The Florida Times-Union (Jacksonville), The Tallahassee Democrat, The Tennessean (Nashville), The Courier-Journal (Louisville), Democrat and Chronicle (Rochester), The Des Moines Register, El Paso Times, The Arizona Republic (Phoenix), The News-Press (Fort Myers), Milwaukee Journal Sentinel, among others.

In 2015, Gannett underwent a corporate division resulting in two publicly traded entities: one retained the Gannett name and concentrated on newspaper publishing, while the other, named Tegna Inc., focused on broadcasting and managed approximately 68 television stations. Tegna became the legal continuation of the original Gannett, whereas the new Gannett was created as a spin-off.

Following the enactment of the Tax Cuts and Jobs Act of 2017, Gannett was listed in 2018 among 90 Fortune 500 firms that reported an effective federal tax rate of zero or lower.

In November 2019, New Media Investment Group completed its acquisition of Gannett by merging its subsidiary GateHouse Media into Gannett, thereby establishing the largest newspaper publisher in the U.S. under the Gannett brand. Mike Reed was appointed as CEO following this merger.

On November 4, 2025, it was announced that the company would officially change its name from Gannett to USA Today Co., effective November 18, 2025. The company’s stock will trade under the ticker symbol "TDAY".

1906–1983

Founded in 1923 by Frank Gannett in Rochester, New York, Gannett Company, Inc. originated from the Elmira Gazette, a newspaper started by Gannett himself in 1906. Known for his conservative ideology, Frank Gannett amassed his wealth by acquiring small independent newspapers and expanding them into a sizable chain—a business model that financially supported the newspaper industry throughout much of the 20th century.

In April 1957, leadership transitioned to Paul Miller, who took over as president and CEO. At that time, Gannett operated 19 newspapers across four states, excluding Florida. After unsuccessful attempts to penetrate the Florida market, Miller shifted focus to Brevard County and approached Marie Holderman, proprietor of the Cocoa Tribune, with plans to establish a morning daily publication. Initial discussions did not lead to an agreement.

During the late 1950s, Al Neuharth, then assistant managing editor at the Miami Herald, became involved with Gannett. Hired by Miller in 1963 to oversee the Democrat and Chronicle, Neuharth later convinced Holderman to sell her paper. In May 1965, Holderman agreed to a $1.9 million sale after negotiations with Gannett executives. Neuharth assumed leadership of Gannett Florida in 1966, acquiring the Star Advocate for $1 million and launching Today in Cocoa—an initiative that eventually developed into Florida Today. By June of that year, subscriptions had reached 33,000, exceeding expectations; profitability was achieved by 1968 after just under three years.

Neuharth succeeded Miller as CEO in 1973.

In 1978, Gannett expanded its holdings by purchasing Combined Communications Corp. for $370 million. This acquisition brought major newspapers such as the Oakland Tribune and The Cincinnati Enquirer into its portfolio, along with seven television stations, thirteen radio stations, and an outdoor advertising division—which later evolved through multiple ownership changes into what is now known as Outfront Media.

Further growth occurred in 1979 with acquisitions including The News Journal from DuPont and Nashville’s The Tennessean, increasing Gannett’s newspaper count to 79. In 1982, its broadcasting division partnered with Telepictures Corporation to launch the Newscope program.

Gannett’s oldest title is England’s Berrow's Worcester Journal, established in 1690. Within the United States, its longest-running newspapers are the Poughkeepsie Journal (founded in 1785) and The Leaf-Chronicle (established in 1808).

1984–2013

In 1984, John Curley was named president and chief operating officer, then elevated to CEO in 1985 while maintaining his presidential role. The company shifted its headquarters from Rochester to Arlington County, Virginia in 1986; notably, the previous headquarters, the Gannett Building, earned a spot on the National Register of Historic Places in 1985.

Douglas H. McCorkindale took over as CEO from Curley in 2000 and became chairman the following year. In 2001, Gannett moved its main office to Tysons Corner, Virginia, a suburb near Washington, D.C. The year 2005 saw the introduction of the mojo initiative—mobile multimedia journalists—at Fort Myers’ News-Press, allowing reporters to submit hyperlocal stories using text, images, audio, and video from outside traditional newsroom settings. This approach soon expanded throughout Gannett’s operations.

By 2010, executive pay had risen sharply; for instance, Bob Dickey, president of Gannett’s U.S. newspapers division, earned $3.4 million compared to $1.9 million the previous year. In response to financial challenges, Gannett reduced its workforce by laying off 700 employees in the United States in 2011.

On March 7, 2011, Gannett refreshed its corporate branding by replacing the stylized "G" logo that had been in use since the 1970s and unveiled the slogan "It's all within reach."

In February 2012, Gannett introduced paywalls on its daily newspaper websites, restricting non-subscribers to between five and fifteen free articles per month; however, USA Today remained fully open to all readers.

On March 24, 2012, Gannett disciplined 25 Wisconsin staff members who had signed a petition supporting the recall of Governor Scott Walker, citing breaches of journalistic ethics intended to uphold credibility and public trust.

On August 21, 2012, Gannett expanded its presence in social media advertising by acquiring Blinq Media.

In October 2012, Gannett entered into a dispute with Dish Network over retransmission fees and Dish’s AutoHop commercial-skipping feature on Hopper DVRs. Concerned about the impact on advertising revenues for its television stations, Gannett threatened to remove all its stations from Dish’s lineup if a deal was not reached by October 7. After extending negotiations, both parties ultimately reached an agreement.

Acquisition of Belo Corporation, 2013

On June 13, 2013, Gannett announced its intention to purchase Dallas-based Belo Corporation for $1.5 billion plus assumption of debt. This deal added twenty stations to Gannett’s holdings, positioning it as the fourth-largest television broadcaster in the United States with a total of forty-three stations. However, due to overlapping ownership of stations and newspapers in certain markets by both companies—and Belo’s use of Sander Media, LLC (a third-party licensee owned by former Belo executive Jack Sander)—concerns were raised by anti-consolidation advocates and pay TV providers about potential market dominance and collusion.

On December 16, 2013, the U.S. Department of Justice mandated that Gannett, Belo, and Sander divest Belo’s St. Louis station KMOV to an independent third party approved by regulators and prohibited from entering agreements with Gannett. This step was intended to maintain competition against Gannett-owned KSDK. The Federal Communications Commission granted approval for the transaction on December 20, with the acquisition closing on December 23. Meredith Corporation took full operational control of KMOV on February 28, 2014.

Acquisition of London Broadcasting Company stations, 2014

On May 14, 2014, Gannett revealed its plan to purchase six Texas-based stations from the London Broadcasting Company for $215 million. This acquisition included NBC affiliate KCEN-TV serving Waco-Temple-Bryan, CBS affiliate KYTX in Tyler-Longview, ABC affiliate KIII in Corpus Christi, ABC/NBC dual affiliate KBMT in Beaumont-Port Arthur, along with FOX affiliates KXVA in Abilene-Sweetwater and KIDY in San Angelo. Phil Hurley, Gannett’s COO, was appointed to oversee these newly acquired stations. The transaction was finalized on July 8, 2014, significantly extending Gannett’s market presence to cover 83% of Texas households and marking its inaugural ownership of Fox affiliates KIDY and KXVA.

Split and further deals, 2014-2018

On August 5, 2014, Gannett announced a strategic division into two independent publicly traded entities: a publishing company led by Robert Dickey focusing on newspapers, and a broadcasting and digital company under CEO Gracia Martore. This restructuring aimed to enhance shareholder value by allowing each business to concentrate on its core strengths and improve competitiveness in the evolving digital environment. Simultaneously, Gannett secured full control of Classified Ventures for $1.8 billion, acquiring assets including Cars.com. On April 21, 2015, the publishing arm retained the Gannett name while the broadcast division was rebranded as Tegna. The separation was completed on June 29, 2015, with Tegna trading under the ticker TGNA and the publishing company maintaining ticker GCI.

Initially sharing office space at Tysons Corner, Virginia, Tegna later moved into a newly constructed 440,000-square-foot building nearby.

On October 7, 2015, Gannett expanded its publishing reach by acquiring Journal Media Group for $280 million, gaining access to more than 100 markets across the Midwest and Southern United States. This followed Journal Media Group’s earlier divestiture of its broadcast properties to E. W. Scripps Company. By December 2015, Gannett consolidated its local newspapers under the "USA Today Network" brand to capitalize on national recognition.

In April 2016, Gannett launched an unsolicited offer for Tribune Publishing at $12.25 per share (approximately $400 million), later raising it to nearly $15 per share (around $800 million). Despite ongoing discussions throughout the year, disappointing quarterly results prompted Gannett to withdraw its bid in November.

Prior to the 2018 U.S. midterm elections, Gannett declared it would not postpone print deadlines for election coverage; instead, next-day editions directed readers online for results rather than including them in print.

Sale to GateHouse Media and relationship with Softbank, 2019

In January 2019, Digital First Media (DFM) made an unsolicited $1.36 billion offer to acquire Gannett, which was declined as undervaluing the company. DFM then increased its ownership stake to 7.5% and initiated a hostile takeover campaign via a proxy battle but failed to secure board seats in May 2019 and subsequently reduced its stake to 4.2%.

On August 5, 2019, New Media Investment Group—the parent company of GateHouse Media—announced plans to acquire Gannett for $1.4 billion. New Media Investment Group was managed by private equity firm Fortress Investment Group, which remained under Japanese conglomerate Softbank ownership until May 2024. The acquisition was financed through a $1.792 billion loan from Apollo Global Management. Though GateHouse was technically the surviving entity post-merger, the combined company adopted the Gannett name with Michael E. Reed—CEO of GateHouse’s parent—as chief executive officer. The merger closed on November 19, 2019.

Following the merger, new leadership immediately identified operational "inefficiencies," indicating forthcoming cost-cutting measures and workforce reductions across its newspaper properties.

In December 2019, CNBC reported that Gannett was among 92 Fortune 500 companies that paid an effective federal tax rate of zero or less in 2018 due to provisions from the Tax Cuts and Jobs Act of 2017.

By 2022, despite a board lacking journalism expertise, CEO Mike Reed received total compensation amounting to $7.7 million for 2021—including salary and equity incentives—while Gannett’s stock value declined by approximately 70% during his leadership tenure, reducing the worth of his equity awards.

Litigation over enabling sexual abuse of paperboys in 1970s New York and Arizona, 2019

In 2019, a former paperboy filed a lawsuit against Gannett under the New York State Child Victim's Act, accusing the company of facilitating sexual abuse by a district manager during the 1980s. This complaint surfaced amid merger discussions and a hostile takeover attempt in late 2018, when the plaintiff reached out to investigative journalists and Gannett leadership. Karen Magnuson, then Executive Editor of Gannett's Democrat and Chronicle, directed reporters to halt their inquiries and informed management to initiate an internal review.

Gannett’s COO, Michael G. Kane, responded by stating that no evidence had been uncovered and that the investigation was "closing out." After New York enacted the Child Victim Act, which removed the statute of limitations for abuse claims, four additional lawsuits were filed in February 2020. Further legal actions followed in September 2020 and April 2021.

In December 2020, two former paperboys brought suit against Gannett and its Arizona Republic affiliate, alleging abuse by staff members in Phoenix during the late 1970s. As the New York filing period ended in August 2021, another claim was lodged against Gannett involving the same district manager. In total, eleven men have initiated lawsuits accusing Gannett of enabling sexual abuse of paperboys, some victims being as young as eleven years old.

By July 2022, Gannett’s legal team sought to transfer these cases from state court to the New York Workers' Compensation Board, contending that plaintiffs should have pursued workers’ compensation claims either at the time of abuse or following the passage of the Child Victim Act. In December 2022, Judge Deborah A. Chimes approved this transfer despite the Board’s limited jurisdiction over workers’ compensation and disability benefits rather than legal claims under the Child Victim Act. On July 26, 2024, the Fourth Judicial Department of the Appellate Division of the New York State Supreme Court overturned this ruling. The nine remaining cases continue under Judge Chimes’s jurisdiction.

Impact of COVID-19, 2020

In March 2020, facing challenges from the COVID-19 pandemic, Gannett announced a range of cost-cutting measures including layoffs and furloughs. Company executives voluntarily accepted a 25% reduction in their salaries.

Editorial content reductions, 2022–2024

In April 2022, a panel of Gannett editors recommended a substantial cutback in opinion-based content—comprising editorials, op-ed pieces, syndicated columns, and editorial cartoons—citing declining reader engagement and concerns about perceived bias. A company memo highlighted that opinion content was among the least consumed sections and frequently cited as a reason for subscription cancellations.

By March 2024, Gannett discontinued its longstanding premium subscription to Associated Press (AP) services, ceasing payments for AP news reports, photographs, and videos across its outlets. The company indicated this budgetary decision would enable reinvestment into bolstering internal reporting teams.

Concurrently, Gannett entered into an agreement with Reuters to distribute that agency’s global newswire content. The company will maintain payments to AP solely for election-related polling data, vote tabulation services, and access to the AP Stylebook. Although Gannett’s contract with AP was due to expire at year-end 2024, details regarding early termination and financial arrangements were not publicly disclosed.

Financial situation and workforce reductions in 2022

During the second quarter of 2022, Gannett reported revenues totaling $749 million but incurred a loss of $54 million. The company initiated workforce cutbacks, including the elimination of certain vacant roles and existing positions. By August, approximately 400 employees across the United States—representing 3% of the total staff—were laid off, and recruitment for 400 open roles was suspended. Subsequently, Gannett's stock price, which had already declined by 45% earlier in the year, experienced an additional fall of 28.5%.

In October, the company implemented further cost-saving strategies such as mandatory unpaid leave for one week in December, halting its 401(k) matching program, maintaining a hiring freeze, and offering voluntary severance packages.

November 2022 saw another round of cuts with roughly 200 positions eliminated, accounting for 6% of the news division's workforce. As part of these reductions, Gannett discontinued the print editions of six community newspapers in southeast Michigan—belonging to the Observer and Eccentric chains—including the Livonia Observer and editions serving Westland, Farmington, Plymouth, Canton, and Birmingham. These titles continue to deliver content through digital platforms.

Portfolio of assets

Gannett owns numerous newspapers ranked among the top 100 by circulation within the United States.

USA Today Network

The USA Today Network stands as the largest publishing entity bridging local and national news across America, with USA Today serving as its principal national publication. This network fosters collaboration between regional newspapers and the national outlet. By 2021, it encompassed local newspapers operating in 46 states. In 2023, the network broadened its journalistic reach by recruiting reporters dedicated to covering prominent entertainment personalities such as Taylor Swift and Beyoncé.

In 2021, Gannett revealed that it had supplied advertisers with inaccurate placement data over a nine-month period.

Digital ventures

• Digg — divested to BuySellAds in April 2018

Board members and executive leadership

The board of directors at Gannett comprises eight individuals alongside eleven senior executives.

On October 6, 2011, Craig A. Dubow resigned from his roles as chairman, president, and CEO due to health concerns. He was succeeded by Gracia Martore, who was then chief operating officer and had served the company for 26 years.

Between 2005 and 2008, Sue Clark-Johnson held the position of president for Gannett’s Newspaper Division.

In May 2019, Barbara Wall took on the role of interim CEO following Bob Dickey’s retirement.

Mike Reed assumed the CEO position in June 2020, succeeding Paul Bascobert who served from August 2019 for roughly ten months.

Corporate headquarters

Gannett finalized its corporate headquarters in Valo Park, Tysons, Virginia in 2001. The facility spans 1.5 million square feet on a 30-acre site and includes comprehensive athletic amenities along with a helipad.

In February 2024, Gannett vacated this location with plans to move into a leased office space measuring 24,000 square feet in New York City starting March 31.