TEGNA INC — Director's Dealing 2003

Dec 5, 2003

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GANNETT CO INC /DE/ (GCI)
CIK: 0000039899
Period of Report: 2003-12-03

Reporting Person: WATSON GARY L (Pres/Gannett Newspaper Div)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2003-12-03	Common Stock	M	80180	$37.375	Acquired	117080	Direct
2003-12-03	Common Stock	S	21400	$88.60	Disposed	95680	Direct
2003-12-03	Common Stock	S	2800	$88.66	Disposed	92880	Direct
2003-12-03	Common Stock	S	1400	$88.58	Disposed	91480	Direct
2003-12-03	Common Stock	S	1000	$88.44	Disposed	90480	Direct
2003-12-03	Common Stock	S	1700	$88.68	Disposed	88780	Direct
2003-12-03	Common Stock	S	2300	$88.50	Disposed	86480	Direct
2003-12-03	Common Stock	S	100	$88.76	Disposed	86380	Direct
2003-12-03	Common Stock	S	900	$88.52	Disposed	85480	Direct
2003-12-03	Common Stock	S	2400	$88.72	Disposed	83080	Direct
2003-12-03	Common Stock	S	300	$88.48	Disposed	82780	Direct
2003-12-03	Common Stock	S	300	$88.46	Disposed	82480	Direct
2003-12-03	Common Stock	S	580	$88.55	Disposed	81900	Direct
2003-12-03	Common Stock	S	15200	$88.71	Disposed	66700	Direct
2003-12-03	Common Stock	S	6100	$88.75	Disposed	60600	Direct
2003-12-03	Common Stock	S	1500	$88.59	Disposed	59100	Direct
2003-12-03	Common Stock	S	200	$88.84	Disposed	58900	Direct
2003-12-03	Common Stock	S	600	$88.77	Disposed	58300	Direct
2003-12-03	Common Stock	S	300	$88.83	Disposed	58000	Direct
2003-12-03	Common Stock	S	1900	$88.54	Disposed	56100	Direct
2003-12-03	Common Stock	S	200	$88.47	Disposed	55900	Direct
2003-12-03	Common Stock	S	500	$88.79	Disposed	55400	Direct
2003-12-03	Common Stock	S	200	$88.56	Disposed	55200	Direct
2003-12-03	Common Stock	S	4800	$88.78	Disposed	50400	Direct
2003-12-03	Common Stock	S	100	$88.81	Disposed	50300	Direct
2003-12-03	Common Stock	S	3600	$88.65	Disposed	46700	Direct
2003-12-03	Common Stock	S	1300	$88.74	Disposed	45400	Direct
2003-12-03	Common Stock	S	500	$88.42	Disposed	44900	Direct
2003-12-03	Common Stock	S	800	$88.70	Disposed	44100	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2003-12-03	Employee Stock Option (right to buy)	$37.375	M	80180	Disposed	2006-12-10	Common Stock (80180)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	3058.323	Indirect

Footnotes

F1: This Form 4 is the first of two Forms 4 being filed by the reporting person to report transactions occurring on December 3, 2003.

F2: This information is based on a plan statement dated as of September 26, 2003.

F3: The initial option for 80,180 shares vested in four equal annual installments beginning on December 10, 1997.