Gannett Q1 Revenue Rises on Belo Integration

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By: Roger Yu | USA Today

Gannett Co., the parent of USA TODAY, said Wednesday first quarter revenue and operating income rose from a year ago following the acquisition of former competitor Belo, but quarterly net income fell as it incurred interest expenses related to the deal.  

Reporting after its first full quarter of operating Belo’s TV stations, Gannett said the net income attributable to the company for the three-months period ending March 30 declined 43% year-over-year to $59.1 million after accounting for $69.6 million in interest expense.

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