GANNETT CO., INC. $31 (New York symbol GCI; Conservative Growth Portfolio, Consumer sector: Shares outstanding: 226.8 million; Market cap: $7.0 billion; Price-to-sales ratio: 1.3; Dividend yield: 2.6%; TSINetwork Rating: Average; www.gannett.com) has completed the sale of two TV stations in Phoenix and one in St. Louis for a total of $407.5 million.
The cash will help Gannett pay for its recent deal to buy six Texas TV stations from London Broadcasting Co. The company will pay $215 million when the deal closes in the next few months. To put these figures in context, Gannett earned $108.4 million, or $0.47 a share, in the first quarter of 2014.
Gannett is a buy.