Gannett Co. Inc. (GCI) has named MarketWatch Inc. founder Larry
Kramer as the president and publisher of USA Today, a move that
comes as the newspaper publisher looks grows its digital
operations.
Kramer's appointment is effective immediately.
"He will play a critical role as we transform the company and
execute on our strategic plan to position Gannett for success in
the digital age," said Gannett Chief Executive Gracia Martore.
Kramer currently serves as a media consultant and adjunct
professor at Syracuse University. Kramer served as president of CBS
Corp.'s digital media unit from 2005 to 2007 and served as an
adviser to CBS until April 2008. Prior to joining CBS, Kramer
served as chairman and CEO of MarketWatch until its sale to Dow
Jones & Co. in January 2005. Dow Jones also publishes this
newswire and The Wall Street Journal.
Gannett, like other struggling traditional publishers, is
attempting to offset an ongoing demise in print circulation and
advertising by focusing more on content and advertising for online
audiences. As part of those efforts, Gannett in February said it
would begin charging for local news content.
Last month, the company reported its first-quarter earnings fell
25% due to restructuring costs and an ongoing slide in print
advertising revenue.
Also In April, Gannett disclosed David Hunke's plans to retire
as USA Today's president and publisher. Earlier Monday, Gannett
announced that its chief financial officer, Paul Saleh, has
resigned to take a position with another company.
Shares slipped by 8 cents to $13.31 in recent after-hours
trading. The stock is off 9.6% over the past three months.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;
nathalie.tadena@dowjones.com