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<TITLE>8k</TITLE>
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<P align=center style="margin-top: 0; margin-bottom: 0"><font size="2"><b>UNITED
STATES</b></font>
<P align=center style="margin-top: 0; margin-bottom: 0"><font size="2"><b>SECURITIES AND EXCHANGE
COMMISSION<BR>Washington, D.C. 20549</b></font>
<HR align=center width="18%" noShade SIZE=1>

<DIV align=center><B><font size="3">FORM 8-K</font></B>
<P align=center><FONT size=2><B>CURRENT REPORT<BR>PURSUANT TO
SECTION 13 OR 15(d)</B> <B>OF THE<BR>SECURITIES EXCHANGE ACT OF 1934</B>
</FONT></P></DIV>
<P align=center><font size="2">Date of Report (date of earliest event reported):</font>
<P align=center><font size="2">December 30, 2004</font>
<P align=center><FONT size=4><B>GANNETT CO., INC.</B></FONT><BR><FONT
size=2>(Exact name of registrant as specified in charter) </FONT>
<CENTER>
<TABLE cellSpacing=0 cellPadding=0 width="681" border=0>
    <TR vAlign=bottom>
    <TD width="227">&nbsp;</TD>
    <TD width="227">&nbsp;</TD>
    <TD width="227">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"><FONT size=2><B>Delaware</B></FONT></TD>
    <TD width="227" align="center"><FONT size=2><b>&nbsp;1-6961</b></FONT></TD>
    <TD vAlign=top align=middle width="227"><FONT size=2><B>16-0442930</B></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=middle width="227"><FONT size=2>(State or Other
      Jurisdiction of Incorporation or&nbsp;<br>
 Organization of Registrant)</FONT></TD>
    </CENTER>
    <TD width="227" valign="top" align="center"><FONT size=2>(Commission File
      Number)&nbsp;</FONT></TD>
<CENTER>
    <TD vAlign=top align=middle width="227"><FONT size=2>(I.R.S. Employer Identification
      No.)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD width="227">&nbsp;</TD>
    <TD width="227">&nbsp;</TD>
    <TD width="227">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"><FONT size=2><B>7950 Jones Branch Drive,
      McLean, Virginia</B></FONT></TD>
    <TD width="227"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="227"><FONT size=2><B>22107-0910</B></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"><FONT size=2>(Address of principal executive
      offices)</FONT></TD>
    <TD width="227"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="227"><FONT size=2>(Zip
Code)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227" align="center"><font size="2"><b>(703) 854-6000</b></font></TD>
    <TD vAlign=top align=middle width="227"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227" align="center"><FONT size=2>(Registrant's telephone number, including area
      code) </FONT>
    </TD>
    <TD vAlign=top align=middle width="227"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227"><font size="2">&nbsp;</font></TD>
    <TD vAlign=top align=middle width="227"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227" align="center"><font size="2"><b>Not Applicable</b></font></TD>
    <TD vAlign=top align=middle width="227"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227" align="center"><font size="2">(Former name or former
      address, if changed since last report.)</font></TD>
    <TD vAlign=top align=middle width="227"></TD></TR></TABLE></CENTER>
<p><font size="2">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:</font></p>
<p><font size="2">[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</font></p>
<p><font size="2">[ ] Soliciting material pursuant to rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</font></p>
<p><font size="2">[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p><font size="2">[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<P align=left style="margin-top: 0; margin-bottom: 0"><font size="2"><b>Item
1.01&nbsp;Entry into a Material Definitive Agreement.</b></font>
<p><font face="Times New Roman" size="2">On December 23, 2004, the company
amended the terms of certain stock option award agreements by accelerating the vesting of certain
of the options to December 23, 2004.&nbsp; The stock option agreements amended
had been awarded under the company's Omnibus Incentive Compensation
Plan.&nbsp; The table below presents information
concerning the affected option awards and option holders.&nbsp; The company's stock price closed at $80.69 on December 23,
2004.&nbsp;&nbsp;</font></p>
<TABLE cellSpacing=0 cellPadding=0 width="681" border=0>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"></TD>
    <TD vAlign=bottom align=left width="80">
      <p align="right" style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">Date of
      option award agreement</font></TD>
    <TD vAlign=bottom align=left width="2">
    </TD>
    <TD vAlign=bottom align=left width="47">
      <p align="right" style="margin-top: 0; margin-bottom: 0"><font size="2">Option</font></p>
      <p align="right" style="border-bottom-style: solid; border-bottom-width: 1; margin-top: 0; margin-bottom: 0"><font size="2">price</font></TD>
    <TD width="13">
    </TD>
    <TD width="71">
      <p align="right" style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">Total
      number of
      options awarded</font></TD>
    <TD vAlign=top align=left width="11">
    </TD>
    <TD vAlign=bottom align=left width="86">
    <p align="right" style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">Less
    - Options which vested Dec. 12, 2004</font>
    </TD>
    <TD vAlign=bottom align=left width="21">
    <font size="2">&nbsp;(1)</font>
    </TD>
    <TD vAlign=top align=left width="96">
      <p align="right" style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">Remaining
      options for which vesting was accelerated to Dec. 23, 2004</font></TD>
    <TD vAlign=bottom align=left width="60">
      <font size="2">&nbsp;(1)</font></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font face="Times New Roman" size="2"><b>Chief
Executive and the four other most highly compensated executive officers (for
      2003):</b></font></TD>
    <TD vAlign=top align=right width="80">
    </TD>
    <TD vAlign=top align=right width="2"></TD>
    <TD vAlign=top align=right width="47"></TD>
    <TD width="13" align="right">
    </TD>
    <TD width="71" align="right">
    </TD>
    <TD vAlign=top align=left width="11">
    </TD>
    <TD vAlign=top align=left width="86">
    </TD>
    <TD vAlign=top align=left width="21">
    </TD>
    <TD vAlign=top align=left width="96">
    </TD>
    <TD vAlign=top align=left width="60">
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font size="2">&nbsp;</font></TD>
    <TD vAlign=top align=right width="80">
    </TD>
    <TD vAlign=top align=right width="2"></TD>
    <TD vAlign=top align=right width="47"></TD>
    <TD width="13" align="right">
    </TD>
    <TD width="71" align="right">
    </TD>
    <TD vAlign=top align=left width="11">
    </TD>
    <TD vAlign=top align=left width="86">
    </TD>
    <TD vAlign=top align=left width="21">
    </TD>
    <TD vAlign=top align=left width="96">
    </TD>
    <TD vAlign=top align=left width="60">
    </TD></TR>
  <TR vAlign=bottom>
    <TD align=left width="172"><font size="2">McCorkindale, Douglas H.</font></TD>
    <TD align=right width="80">
      <p align="right"><font size="2">Dec. 12, 2003</font></TD>
    <TD align=right width="2"></TD>
    <TD align=right width="47"><font size="2">$87.33</font></TD>
    <TD width="13" align="right">
    </TD>
    <TD width="71" align="right">
      <p align="right"><font size="2">400,000</font></TD>
    <TD align=left width="11">
    </TD>
    <TD align=right width="86">
    <font size="2">100,000</font>
    </TD>
    <TD align=left width="21">
    </TD>
    <TD align=left width="96">
      <p align="right"><font size="2">&nbsp;300,000</font></p>
    </TD>
    <TD align=left width="60">
    </TD></TR>
  <TR vAlign=bottom>
    <TD align=left width="172">
      <p><font size="2">Chapple, Thomas L.</font></p>
    </TD>
    <TD align=right width="80">
      <font size="2">Dec. 12, 2003</font>
    </TD>
    <TD align=right width="2">
    </TD>
    <TD align=right width="47">
      <font size="2">$87.33</font>
    </TD>
    <TD width="13" align="right">
    </TD>
    <TD width="71" align="right">
      <p align="right"><font size="2">60,000</font></p>
    </TD>
    <TD align=right width="11">
    </TD>
    <TD align=right width="86">
    <font size="2">15,000</font>
    </TD>
    <TD align=right width="21">
    </TD>
    <TD align=right width="96">
      <p align="right"><font size="2">45,000</font></p>
    </TD>
    <TD align=right width="60">
    </TD></TR>
  <TR vAlign=bottom>
    <TD align=left width="172">
      <font size="2">Dubow, Craig A.</font>
    </TD>
    <TD align=right width="80">
      <font size="2">Dec. 12, 2003</font>
    </TD>
    <TD align=right width="2">
    </TD>
    <TD align=right width="47">
      <font size="2">$87.33</font>
    </TD>
    <TD width="13" align="right">
    </TD>
    <TD width="71" align="right">
      <p align="right"><font size="2">77,000</font></p>
    </TD>
    <TD align=right width="11">
    </TD>
    <TD align=right width="86">
    <font size="2">19,250</font>
    </TD>
    <TD align=right width="21">
    </TD>
    <TD align=right width="96">
      <p align="right"><font size="2">57,750</font></p>
    </TD>
    <TD align=right width="60">
    </TD></TR>
  <TR vAlign=bottom>
    <TD width="172"><font size="2">Davidson, Paul</font></TD>
    <TD width="80" align="right"><font size="2">Dec. 12, 2003</font></TD>
    <TD width="2" align="right"></TD>
    <TD width="47" align="right"><font size="2">$87.33</font></TD>
    <TD width="13" align="right">
    </TD>
    <TD width="71" align="right">
      <p align="right"><font size="2">&nbsp;64,000</font></p>
    </TD>
    <TD width="11" align="right">
    </TD>
    <TD width="86" align="right">
    <font size="2">16,000</font>
    </TD>
    <TD width="21" align="right">
    </TD>
    <TD width="96" align="right">
      <p align="right"><font size="2">48,000</font></p>
    </TD>
    <TD width="60" align="right">
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font size="2">Watson, Gary L.</font></TD>
    <TD vAlign=top align=right width="80"><font size="2">Dec. 12, 2003</font></TD>
    <TD vAlign=top align=right width="2"></TD>
    <TD vAlign=top align=right width="47"><font size="2">$87.33</font></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right">
      <p style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      106,000</font></p>
    </TD>
    <TD vAlign=top align=right width="11"></TD>
    <TD align=right width="86">
      <p style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">26,500</font></TD>
    <TD vAlign=top align=right width="21"></TD>
    <TD vAlign=top align=right width="96">
      <p style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      79,500</font></p>
    </TD>
    <TD vAlign=top align=right width="60">
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"></TD>
    <TD vAlign=top align=center width="80"></TD>
    <TD vAlign=top align=right width="2"></TD>
    <TD vAlign=top align=right width="47"></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"><font size="2">707,000</font></TD>
    <TD align=right width="11"></TD>
    <TD align=right width="86"><font size="2">176,750</font></TD>
    <TD align=right width="21"></TD>
    <TD align=right width="96"><font size="2">530,250</font></TD>
    <TD align=right width="60"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font size="2">&nbsp;</font></TD>
    <TD vAlign=top align=center width="80"></TD>
    <TD vAlign=top align=right width="2"></TD>
    <TD vAlign=top align=right width="47"></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"></TD>
    <TD vAlign=top align=right width="11"></TD>
    <TD align=right width="86"></TD>
    <TD vAlign=top align=right width="21"></TD>
    <TD vAlign=top align=right width="96"></TD>
    <TD vAlign=top align=right width="60"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font size="2"><b>All other executive
      officers as a group</b></font></TD>
    <TD width="80" align="right"><font size="2">Dec. 12, 2003</font></TD>
    <TD width="2" align="right"></TD>
    <TD width="47" align="right"><font size="2">$87.33</font></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"><font size="2">&nbsp;196,000</font></TD>
    <TD width="11" align="right"></TD>
    <TD width="86" align="right"><font size="2">49,000</font></TD>
    <TD width="21" align="right"></TD>
    <TD width="96" align="right"><font size="2">147,000</font></TD>
    <TD width="60" align="right"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font size="2">&nbsp;</font></TD>
    <TD vAlign=top align=center width="80"></TD>
    <TD vAlign=top align=right width="2"></TD>
    <TD vAlign=top align=right width="47"></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"></TD>
    <TD vAlign=top align=right width="11"></TD>
    <TD align=right width="86"></TD>
    <TD vAlign=top align=right width="21"></TD>
    <TD vAlign=top align=right width="96"></TD>
    <TD vAlign=top align=right width="60"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font size="2"><b>All other employees</b></font></TD>
    <TD width="80" align="right"><font size="2">Dec. 12, 2003</font></TD>
    <TD width="2" align="right"></TD>
    <TD width="47" align="right"><font size="2">$87.33</font></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"><font size="2">&nbsp;4,163,625</font></TD>
    <TD width="11" align="right"></TD>
    <TD width="86" align="right"><font size="2">1,040,906</font></TD>
    <TD width="21" align="right"></TD>
    <TD width="96" align="right"><font size="2">3,122,719</font></TD>
    <TD width="60" align="right"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"></TD>
    <TD width="80" align="right"><font size="2">Feb. 23, 2004</font></TD>
    <TD width="2" align="right"></TD>
    <TD width="47" align="right"><font size="2">$86.80</font></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"><font size="2">24,000</font></TD>
    <TD width="11" align="right"></TD>
    <TD width="86" align="right"><font size="2">6,000</font></TD>
    <TD width="21" align="right"></TD>
    <TD width="96" align="right"><font size="2">18,000</font></TD>
    <TD width="60" align="right"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"></TD>
    <TD width="80" align="right"><font size="2">March 1, 2004</font></TD>
    <TD width="2" align="right"></TD>
    <TD width="47" align="right"><font size="2">$86.59</font></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"><font size="2">36,363</font></TD>
    <TD width="11" align="right"></TD>
    <TD width="86" align="right"><font size="2">9,091</font></TD>
    <TD width="21" align="right"></TD>
    <TD width="96" align="right"><font size="2">27,272</font></TD>
    <TD width="60" align="right"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"></TD>
    <TD width="80" align="right"><font size="2">May 3, 2004</font></TD>
    <TD width="2" align="right"></TD>
    <TD width="47" align="right"><font size="2">$86.15</font></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"><font size="2">28,700</font></TD>
    <TD width="11" align="right"></TD>
    <TD width="86" align="right"><font size="2">7,175</font></TD>
    <TD width="21" align="right"></TD>
    <TD width="96" align="right"><font size="2">21,525</font></TD>
    <TD width="60" align="right"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"></TD>
    <TD width="80" align="right"><font size="2">&nbsp;May 4, 2004</font></TD>
    <TD width="2" align="right"></TD>
    <TD width="47" align="right"><font size="2">$86.60</font></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right">
      <p style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">26,560</font></p>
    </TD>
    <TD width="11" align="right"></TD>
    <TD width="86" align="right">
      <p style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">6,640</font></TD>
    <TD width="21" align="right"></TD>
    <TD width="96" align="right">
      <p style="border-bottom-style: solid; border-bottom-width: 1"><font size="2">19,920</font></p>
    </TD>
    <TD width="60" align="right">
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font size="2">&nbsp;</font></TD>
    <TD vAlign=top align=center width="80"></TD>
    <TD vAlign=top align=center width="2"></TD>
    <TD vAlign=top align=center width="47"></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right"></TD>
    <TD vAlign=top align=right width="11"></TD>
    <TD align=right width="86"></TD>
    <TD vAlign=top align=right width="21"></TD>
    <TD vAlign=top align=right width="96"></TD>
    <TD vAlign=top align=right width="60"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172"><font size="2"><b>Grand total - all
      employees</b></font></TD>
    <TD vAlign=top align=center width="80"></TD>
    <TD vAlign=top align=center width="2"></TD>
    <TD vAlign=top align=center width="47"></TD>
    <TD width="13" align="right">
    </TD>
    <TD width="71" align="right">
      <p style="border-bottom-style: solid; border-bottom-width: 3"><font size="2">5,182,248</font></TD>
    <TD align=right width="11"></TD>
    <TD align=right width="86">
      <p style="border-bottom-style: solid; border-bottom-width: 3"><font size="2">1,295,562</font></TD>
    <TD align=right width="21"></TD>
    <TD align=right width="96">
      <p style="border-bottom-style: solid; border-bottom-width: 3"><font size="2">3,886,686</font></p>
    </TD>
    <TD align=right width="60">
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="172">&nbsp;</TD>
    <TD vAlign=top align=center width="80"></TD>
    <TD vAlign=top align=center width="2"></TD>
    <TD vAlign=top align=center width="47"></TD>
    <TD width="13" align="right"></TD>
    <TD width="71" align="right">
      <p align="left">&nbsp;&nbsp;</TD>
    <TD vAlign=top align=right width="11"></TD>
    <TD vAlign=top align=right width="86"></TD>
    <TD vAlign=top align=right width="21"></TD>
    <TD vAlign=top align=right width="96">
      <p align="left">&nbsp;&nbsp;</TD>
    <TD vAlign=top align=right width="60">
    </TD></TR>
</TABLE>
<p><font size="2">(1)&nbsp; Under the terms of the original option agreements,
the options were scheduled to vest as follows:</font></p>
<table border="0" width="33%">
  <tr>
    <td width="27%" align="right"><font size="2">25%</font></td>
    <td width="73%">
      <p align="center"><font size="2">December 12, 2004</font></td>
  </tr>
  <tr>
    <td width="27%" align="right"><font size="2">25%</font></td>
    <td width="73%" align="center"><font size="2">December 12, 2005</font></td>
  </tr>
  <tr>
    <td width="27%" align="right"><font size="2">25%</font></td>
    <td width="73%" align="center"><font size="2">December 12, 2006</font></td>
  </tr>
  <tr>
    <td width="27%" align="right"><font size="2">25%</font></td>
    <td width="73%" align="center"><font size="2">December 12, 2007</font></td>
  </tr>
</table>
<P style="margin-top: 8; margin-bottom: 0"><font size="2">&nbsp;&nbsp;&nbsp;
Therefore, 25% of the options covered by the above award agreements vested
according to the original terms of the agreements, while vesting for the
remaining 75% of option awards was accelerated to December 23, 2004.</font>
<P align=center style="margin-top: 0; margin-bottom: 0">&nbsp;
<P align=center style="margin-top: 40; margin-bottom: 0"><font size="2">SIGNATURE</font>
<P align=left><font size="2">Pursuant to requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.</font>
<TABLE cellSpacing=0 cellPadding=0 width="613" border=0>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="320"></TD>
    <TD width="45"></TD>
    <TD vAlign=top align=left width="242">
      <p align="left"><font size="2">Gannett Co., Inc.</font></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="320"></TD>
    <TD width="45"></TD>
    <TD vAlign=top align=left width="242"><font size="2">&nbsp;</font></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="320">
      <p align="left"><font size="2">Date:&nbsp; December 30, 2004</font></p>
    </TD>
    <TD width="45"><font size="2">By:</font></TD>
    <TD vAlign=top align=left width="242"><font size="2"><u>&nbsp;/s/George R. Gavagan&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;&nbsp;</u></font></TD></TR>
  <TR vAlign=bottom>
    <TD width="320"><font size="2">&nbsp;</font></TD>
    <TD width="45"><font size="2">&nbsp;</font></TD>
    <TD width="242"><font size="2">George R. Gavagan</font></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="320"></TD>
    <TD width="45"></TD>
    <TD vAlign=top align=left width="242"><font size="2">Vice President and Controller</font></TD></TR>
</TABLE>
</BODY></HTML>
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8k
UNITED
STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO
SECTION 13 OR 15(d)
OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported):
December 30, 2004
GANNETT CO., INC.
(Exact name of registrant as specified in charter)
Delaware
1-6961
16-0442930
(State or Other
      Jurisdiction of Incorporation or
Organization of Registrant)
(Commission File
      Number)
(I.R.S. Employer Identification
      No.)
7950 Jones Branch Drive,
      McLean, Virginia
22107-0910
(Address of principal executive
      offices)
(Zip
Code)
(703) 854-6000
(Registrant's telephone number, including area
      code)
Not Applicable
(Former name or former
      address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item
1.01 Entry into a Material Definitive Agreement.
On December 23, 2004, the company
amended the terms of certain stock option award agreements by accelerating the vesting of certain
of the options to December 23, 2004.  The stock option agreements amended
had been awarded under the company's Omnibus Incentive Compensation
Plan.  The table below presents information
concerning the affected option awards and option holders.  The company's stock price closed at $80.69 on December 23,
2004.
Date of
      option award agreement
Option
price
Total
      number of
      options awarded
Less
    - Options which vested Dec. 12, 2004
(1)
Remaining
      options for which vesting was accelerated to Dec. 23, 2004
(1)
Chief
Executive and the four other most highly compensated executive officers (for
      2003):
McCorkindale, Douglas H.
Dec. 12, 2003
$87.33
400,000
100,000
300,000
Chapple, Thomas L.
Dec. 12, 2003
$87.33
60,000
15,000
45,000
Dubow, Craig A.
Dec. 12, 2003
$87.33
77,000
19,250
57,750
Davidson, Paul
Dec. 12, 2003
$87.33
64,000
16,000
48,000
Watson, Gary L.
Dec. 12, 2003
$87.33
106,000
26,500
79,500
707,000
176,750
530,250
All other executive
      officers as a group
Dec. 12, 2003
$87.33
196,000
49,000
147,000
All other employees
Dec. 12, 2003
$87.33
4,163,625
1,040,906
3,122,719
Feb. 23, 2004
$86.80
24,000
6,000
18,000
March 1, 2004
$86.59
36,363
9,091
27,272
May 3, 2004
$86.15
28,700
7,175
21,525
May 4, 2004
$86.60
26,560
6,640
19,920
Grand total - all
      employees
5,182,248
1,295,562
3,886,686
(1)  Under the terms of the original option agreements,
the options were scheduled to vest as follows:
25%
December 12, 2004
25%
December 12, 2005
25%
December 12, 2006
25%
December 12, 2007
Therefore, 25% of the options covered by the above award agreements vested
according to the original terms of the agreements, while vesting for the
remaining 75% of option awards was accelerated to December 23, 2004.
SIGNATURE
Pursuant to requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Gannett Co., Inc.
Date:  December 30, 2004
By:
/s/George R. Gavagan
George R. Gavagan
Vice President and Controller