** Shares of U.S. newspaper chain Gannett GCI.N rise 1.6% to $3.71 premarket

** "We are implementing targeted annualized expense reductions of approximately $100 million that we anticipate will create a lower and more variable cost structure," CEO Michael Reed says

** Gannett expects 2025 revenue to be down in low-mid single digits on same-store basis, compared with prior expectations for it to be down in low single digits

** Co reports total revenue of $584.9 million for Q2 vs estimates of $593.1 million

** Up to last close, stock had fallen 27.9% YTD

(Reporting by Harshita Mary Varghese in Bengaluru)

((HarshitaMary.Varghese@thomsonreuters.com))