MCLEAN, VA — Newspaper publisher Gannett Corp. announced it will leave its longtime headquarters in Tysons Corner and move to new offices in New York City by the end of March.
Gannett publishes national newspaper USA Today and hundreds of local newspapers but has seen revenues decline over the past several years due to falling circulation of print newspapers and advertising. In the fourth quarter of 2023, Gannett reported total revenues of $669.4 million, down 8.4% compared to the fourth quarter of 2022.
Digital subscriptions and ads aren’t pulling in the same amount of revenue that the printed newspaper with higher-priced ads once did.
Gannett reported total digital revenues of $277.1 million, or 41.4% of total revenues, up 2.9% versus the prior year
The company is projecting overall revenues to drop again in 2024 in the low- to mid-single digits.
In its 10-K filing, Gannett said it was leasing approximately 176,000 square feet at its headquarters in McLean, which won’t end until October 2030. The Company has closed its headquarters and will seek subleases for its McLean facility. Effective March 31, 2024, the new corporate headquarters will be located in New York, NY, which occupies approximately 24 thousand square feet, under a lease agreement terminating in May 2031. The company also has an executive office in Pittsford, NY, where it leases approximately 7 thousand square feet, under a lease agreement terminating in December 2026.
According to FFXNow, journalists at USA Today are now either working remotely or at the company’s DC bureau.
USA Today made its print debut in September 1982.
