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Regional reporter flies to Washington to speak at parent company’s AGM

A regional press reporter travelled halfway across the world to attend a company AGM in order to highlight the dedication of its UK journalists.

Newsquest owner Gannett yesterday fended off an attempt by rival US publisher MNG to seize control of its board amid a hostile takeover bid.

Among those attending the AGM was Amy Fenton, chief reporter for the Newsquest-owned Mail in Cumbria.

As a workplace rep for the National Union of Journalists, Amy travelled with NUJ regional organiser Chris Morley and, acting as a proxy for a Gannett shareholder, entitled to speak in front of other shareholders, executives and employees at the firm’s headquarters in McLean, Virginia.

Amy Fenton of The Mail outside Gannett's Washington DC headquarters

Amy Fenton of The Mail outside Gannett’s McLean, Virginia HQ

The meeting saw shareholders reject attempts from MNG Enterprises’ to become Gannett board members as part of a hostile takeover bid.

This followed an unsolicited offer from MNG to acquire Gannett for $12 a share in January.

Amy made an impassioned plea to the audience and explained how she had decided to fly to Washington DC to ask shareholders to consider Gannett’s “incredibly talented and dedicated reporters” in any decisions they make.

She told the meeting: “I’ve travelled all the way from England to attend today’s AGM because amid all the uncertainty and confusion within our industry I wanted to stand before you and act as a reminder than you have some incredibly talented and dedicated reporters, here and in the UK, who work their socks off and that is ultimately because we love the papers we work for and the communities we serve.”

Afterwards Amy said: “The response and reception I received from Gannett and USA Today was such a proud moment for me and being given the chance to meet colleagues from Gannett and see USA Today’s newsroom was a once-in-a-lifetime opportunity.

“Being able to flag up the hard work and dedication of the reporters who, like myself, give their lives to the job and care so much about the newspapers and communities we serve was an incredible opportunity for me and highlighting our commitment, not only to journalism but to the success of our papers and our employers, was something I was really keen to do.

“I was extremely nervous at the prospect of speaking in front of so many people and I wasn’t sure how it would be received but everyone was so kind to me and I was overwhelmed by how many came over to shake my hand and thank me afterwards.

“My bosses at Newsquest, and Gannett, were so welcoming and it was an absolute honour to be able to speak on behalf of reporters who work so hard and who deserve to be recognised for the role we play.”

Gannett said it was pleased after all those on its slate were elected by its shareholders according to the results of a preliminary vote, with three director candidates nominated by MNG being rejected.

The company said in a statement: “We are pleased with the preliminary outcome of the vote, and the Gannett board and management team thank our shareholders for their input, participation and support throughout the proxy contest.

“Consistent with the interactions with our investors leading up to the meeting, this outcome demonstrates that Gannett shareholders recognize the continued progress we have made toward our ongoing digital transformation and agree that our strategic plan is the best path to deliver value for all Gannett shareholders

“Our shareholders also understand that the broad and diverse backgrounds, professional experiences and skills of our directors make them uniquely qualified to oversee Gannett’s achievement of its strategic objectives and transformation plan.

“Importantly, we also want to recognize all of our dedicated employees for their commitment and hard work throughout this process.

“We remain focused on executing our strategy to create value for our customers and shareholders by continuing to be a news leader and driving growth in digital subscribers, audience engagement and advertising and marketing services revenues, while upholding the company’s commitment to journalistic excellence.”

An MNG spokesman told the Financial Times: “Gannett’s newspapers are critical local resources, and we hope that Gannett’s incumbent board and management shift course to embrace a modern approach to local news that will save newspapers and serve communities.

“That would be the best outcome. If Gannett’s board does not shift course from overpaying for non-core, aspirational and dilutive digital deals, we believe the stock will drop further.”

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  • May 17, 2019 at 9:17 am
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    I’m sure it was a delightful trip. I’m also sure that as far as influencing whatever happens to the company, it was a complete waste of time and money.

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