Gannett Statement Regarding Defamation Verdict
February 07 2024 - 2:30PM
Business Wire
Gannett Co., Inc. (NYSE: GCI) was named as a defendant in a
lawsuit titled Scott O. Sapulpa v. Gannett Co., Inc. in District
Court in the State of Oklahoma.
Following a trial, a jury returned a verdict finding Gannett
liable for defamation and awarded plaintiff actual damages of $5
million. The jury also found in favor of the plaintiff on claims of
actual malice and intentional infliction of emotional distress and
awarded him $20 million in punitive damages.
Gannett is disappointed with the verdict as no credible evidence
was presented to the jury that The Oklahoman acted with any
awareness that what was reported was false or with any intention to
harm the plaintiff in this case. Gannett believes that the jury
verdict was a result of errors in the way the Court administered
the case and a flawed trial process.
Gannett intends to seek appellate review of the case.
The amount of damages awarded, if any, would be covered by
insurance and Gannett does not expect a material impact to its
financials or liquidity.
ABOUT GANNETT
Gannett Co., Inc. (NYSE: GCI) is a subscription-led and
digitally-focused media and marketing solutions company committed
to empowering communities to thrive. With an unmatched reach at the
national and local level, Gannett touches the lives of millions
with our Pulitzer Prize-winning content, consumer experiences and
benefits, and advertiser products and services. Our current
portfolio of media assets includes The USA TODAY NETWORK, which
includes USA TODAY, and local media organizations in 43 states in
the United States, and Newsquest, a wholly-owned subsidiary
operating in the United Kingdom. We also own digital marketing
services companies under the brand LocaliQ, which provide a
cloud-based platform of products to enable small and medium-sized
businesses to accomplish their marketing goals. In addition, our
portfolio includes one of the largest media-owned events businesses
in the U.S., USA TODAY NETWORK Ventures.
Cautionary Statement Regarding Forward-Looking
Statements
Certain items in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements regarding our business outlook, digital
revenue performance, our ability to develop and implement quality
assurance programs for our product releases and our ability to
identify and remediate problems in connection with such product
releases. Words such as "expect(s)", "plan(s)", "believes(s)",
"will", "target", "outlook" and similar expressions are intended to
identify such forward-looking statements. These statements are
based on management’s current expectations and beliefs and are
subject to a number of risks and uncertainties. These and other
risks and uncertainties could cause actual results to differ
materially from those described in the forward-looking statements,
many of which are beyond our control. The Company can give no
assurance its expectations will be attained. Accordingly, you
should not place undue reliance on any forward-looking statements
contained in this press release. For a discussion of some of the
risks and important factors that could cause actual results to
differ from such forward-looking statements, see the risks and
other factors detailed from time to time in the Company’s most
recent Annual Report on Form 10- K, our quarterly reports on Form
10-Q, and our other filings with the
Securities and Exchange Commission. Furthermore, new risks and
uncertainties emerge from time to time, and it is not possible for
the Company to predict or assess the impact of every factor that
may cause its actual results to differ from those contained in any
forward-looking statements. Such forward-looking statements speak
only as of the date of this press release. Except to the extent
required by law, the Company expressly disclaims any obligation to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company’s
expectations with regard thereto or change in events, conditions or
circumstances on which any statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20240207984763/en/
MEDIA CONTACT Lark-Marie
Anton Senior Vice President, Communications (646) 906-4087
lark@gannett.com INVESTOR
RELATIONS Trisha Gosser Senior Vice President, Investor
Relations (703) 854-6708 tgosser@gannett.com
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