Tuesday, April 17, 2012

Gannett Quarterly Profits Off a Quarter

The front view of the USA Today/Gannett Buildi... (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.
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