Gannett Quarterly Profits Off a Quarter

(Photo credit: Wikipedia)Restructuring costs and plunging newspaper advertising revenue are to blame for the 25 percent decrease in First Quarter profits for McLean, Va.-based media conglomerate Gannett Co. compared to a year ago.

According to an Associated Press report, Gannett, whose stable includes USA Today among its 82 newspapers, along with 23 television stations, saw a 2.6 percent decline in First Quarter revenues compared to the same period in 2011. Digital ad revenues, however, jumped 6.8 percent.