NEW YORK – Gannett Co., Inc. (NYSE: GCI), parent company of USA TODAY Network, announced a partnership with Concacaf, the Confederation of North and Central American and Caribbean Football (Concacaf), as the official media content partner. The partnership aims to increase the visibility of CONCACAF’s competitions, including the 2024 Champions League, an elite men’s club football tournament.
The 2024 Champions League final is scheduled to take place on Saturday at Estadio Hidalgo in Pachuca, Mexico, between Pachuca and Columbus Crew. Gannett’s extensive network, including USA TODAY Sports and Pro Soccer Wire, will provide comprehensive coverage of the event, which will determine the regional club champions and CONCACAF at the 2025 FIFA Club World Cup in the United States in the summer Regional football federation representatives.
Lesley Webster, executive director of enterprise and decentralized partnerships at Gannett, expressed excitement about the partnership, highlighting the country’s growing interest in men’s soccer and the network’s ability to meet the needs of sports fans with exclusive coverage Ability.
CONCACAF Secretary General Philippe Mogio also spoke about the success and impact of the Champions League, and attributed the increased fan engagement and relevance across North America to the partnership with Gannett. The anticipation for the final and the crowning of CONCACAF Club Champions was underlined.
The alliance between Gannett and CONCACAF aligns with the media company’s mission to inspire and inform audiences. Gannett’s portfolio includes USA TODAY, local media organizations across the United States, digital marketing solutions and events divisions. The partnership is expected to serve the interests of both entities’ more than 50 million sports viewers.
The statements in this press release are the basis for the information provided.
Investment Professional Insights
Given Gannett Co., Inc.’s (NYSE: GCI) recent partnership with CONCACAF, investors and followers of the media giant may be interested in the company’s financial health and market performance. Despite challenging market conditions and a price-to-earnings ratio of -4.24, Gannett has a market capitalization of $516.03 million and occupies a significant position in the media industry. The trailing 12-month adjusted price-to-earnings ratio fell further to -6.58 as of Q1 2024, indicating that profits have failed to keep pace with the company’s share price.
In terms of profitability, Gannett’s gross profit in the past 12 months as of the first quarter of 2024 was US$966.15 million, with a gross profit margin of 36.73%. This profit margin reflects the company’s ability to effectively manage production and sales costs. However, revenue growth fell by -8.23% during the same period, indicating potential headwinds from sales or competitive pressure.
From an investment perspective, Gannett stock has seen a significant reversal recently, with a 1-month total price return of 53.31% and a 3-month total price return of 74.18%. The performance is particularly noteworthy given the company’s revenue challenges, and may reflect investor optimism about strategic initiatives such as the CONCACAF partnership. The InvestingPro Fair Value Indicator prices Gannett shares at $4.35, above the analyst target of $3.60, suggesting the stock may have room to grow further.
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