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Benzinga
Benzinga
Business
Shivani Kumaresan

Gannett Hoodwinked Advertisers For Nine Months: WSJ

Gannett USA Today GCI Arizona Republic Detroit Free Press NYSE Palm Beach Post United States Wall Street Journal
  • Gannett Co Inc (NYSE:GCI), owner of USA Today, misguided advertisers with inaccurate information for nine months, the Wall Street Journal reported.
  • Gannett owns news outlets in 46 U.S. states, from the Arizona Republic to the Detroit Free Press, to the Palm Beach Post, and sells ad space through digital auctions.
  • Gannett misguided advertisers saying they were buying an ad on one Gannett site, often in USA Today, but actually were provided space on another.
  • Gannett said in a statement that it regrets the error, which it said was unintentional. 
  • The discrepancy was first discovered by an independent ad industry researcher, Braedon Vickers.
  • Price Action: GCI shares closed lower by 0.55% at $4.50 on Tuesday.
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