To: USCP Publishers & General Managers

As all of you are painfully aware, the fiscal crisis is deepening and the economy is getting worse. Gannett’s revenues continue to be severely impacted by this downturn, and our local operations are suffering. While we are doing our best to reduce all non staff-related expenses, I am sorry to report that we must do another round of layoffs across our division.

To that end, we will institute an involuntary staff reduction of approximately 10% by the first week of December. The terms of the severance will be one week for each year of service with a cap of 26 weeks.

Each publisher is responsible for developing their local plan to achieve the expected goal. Decisions will be made locally because each of our markets is unique, with differing market conditions and individual needs in light of our previous reductions.

I have asked that all plans be completed by Nov. 14 at which time they will go through the standard review process.

I fully understand this announcement will cause you concern but I felt that once a decision was made it should be communicated as quickly as possible.

While this is more bad news, it is a sign of Gannett’s determination to remain healthy and viable as a company during these turbulent economic times. We continue to be a leader in our industry, not only because of our fiscal strength but also because we have a plan to aggressively grow the company when the economy returns.

We continue to be a leader in our industry, not only because of our fiscal strength but also because we have a plan to aggressively grow the company when the economy returns.

July 17, 2008

Moody's Investors Service ... put Gannett's "A3" senior unsecured long-term debt rating on review for downgrade on Thursday.

"The review is prompted by the ongoing and deepening declines in Gannett's newspaper revenue and Moody's concern that the company's revenue-enhancement initiatives and cost reduction actions may not be sufficient to prevent continued erosion in free cash flow over the next 12-18 months," the rating company said.

Rival rating agency Standard & Poor's has already cut Gannett's rating one level lower to "BBB-plus," three notches above junk territory.

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In August, Gannett said it would eliminate 1,000 newspaper jobs, with 600 being laid off.

Oct. 28, 2008

Gannett Co Inc... is planning to cut about 10 percent of jobs...
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