** Shares of U.S. newspaper chain Gannett GCI.N rise 1.6% to $3.71 premarket
** "We are implementing targeted annualized expense reductions of approximately $100 million that we anticipate will create a lower and more variable cost structure," CEO Michael Reed says
** Gannett expects 2025 revenue to be down in low-mid single digits on same-store basis, compared with prior expectations for it to be down in low single digits
** Co reports total revenue of $584.9 million for Q2 vs estimates of $593.1 million
** Up to last close, stock had fallen 27.9% YTD
(Reporting by Harshita Mary Varghese in Bengaluru)
((HarshitaMary.Varghese@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.