TDAY | Market Cap: $1.3B (07/13/26)
Industry:
Media & Entertainment

DESCRIPTION

USA TODAY Co. (formerly Gannett) is a news and media company that owns and operates a large portfolio of digital and print publications in the U.S. and U.K. Its flagship brand is USA TODAY, and it operates a network of over 320 local digital news brands across 43 U.S. states. In the U.K., the company operates Newsquest, a portfolio of roughly 220 digital news brands and over 150 print newspapers. The company runs three segments: USA TODAY Media, the core U.S. news business; Newsquest, the U.K. regional media business; and LocaliQ, a digital marketing solutions business that sells search, display, and social advertising services to small and medium-sized businesses. USA TODAY Co. makes money through advertising, subscriptions, and digital marketing services. Digital advertising revenue scales with audience size and engagement, while print advertising is in secular decline. On the subscription side, the company had roughly 1.5 million paid digital-only subscribers as of year-end 2025, and management has shifted toward acquiring fewer but higher-value subscribers, pushing digital-only ARPU to a record $8.80 in Q3 2025. LocaliQ charges SMBs on a recurring basis to manage digital ad campaigns across platforms like Google and Facebook. The company is also building an AI content licensing channel, signing deals with Perplexity, Microsoft, and others, while aggressively blocking unauthorized AI scraping. Print remains the largest single revenue category but is structurally declining, and management is focused on cutting print costs, growing digital revenues, and paying down debt from its 2019 merger.

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