Gannett Hides Revenue Goal

Wednesday, February 17, 2010

Gannett Co. Inc. got notification Wednesday, Feb. 16 that the company would be allowed to with hold its digital revenue goals by 2011. On the company's 2009 annual 10-K form they left put an asterisk where they were supposed to fill out their revenue.

The form was filed on Feb. 25, 2009 under rule 24b-2 which requests confidential treatment for the information about their planned earnings. The plan was originally drawn up for then new Chief Digital Officer Chris Saridakis that he would earn an extra $4 million if he reaches specific goals over the plan's four year period.

Next to the asterisk on the form was a footnote that said Gannett was waiting for conformation from the SEC to see if they would be able to keep their financial numbers secret. There is no exact explanation for why the SEC took so long to make their decision on Gannett's request.


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