New York—Gannett Co. Wednesday unveiled plans to install a paywall at its local newspapers and to return more than $1.3 billion to shareholders by 2015. Gannett will reportedly not implement a paywall strategy at its flagship publication, USA Today.
“Gannett is once again playing offense, poised for growth and value creation,” said Gracia Martore, the company's president-CEO, in a statement.
Gannett said it anticipates 2%-to-4% overall revenue growth between now and 2015. The company said it expects to add $100 million in incremental revenue beginning in 2013 from its community newspaper paywall.
Gannett also said it will relaunch all of desktop, mobile and tablet products over the next two years, beginning with USA Today.