Gannett Revenue Down in August

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By: E&P Staff

Gannett reported today that newspaper advertising revenue in August declined less than one percent compared with the same period last year. ROP volume decreased 3.7% and preprint volume slipped 1.1%.

Local advertising revenue dropped 1.2% on a 4.6% decline in ROP ad volume. The performance of the company’s small and medium-sized advertisers in its domestic newspapers outpaced the revenue performers of its largest advertisers.

Classified revenue advanced 2.5% on a 3.1% decline in ROP volume. Within the category, help wanted was up 3.9%. Real estate rose 2.7% and automotive dropped 9.8%.

National advertising revenues fell 8.2% on a 5.1% decline in ad volume. National volume at the company’s local domestic newspapers was down 2.7% in the period.

At USA Today, advertising revenues were 16.8% lower on a 21.7% decline in paid ad pages to 250 from 319, reflecting primarily the absence of summer Olympics-related ad demand. Year-to-date, USA Today’s advertising revenues declined less than 1% while paid advertising pages totaled 2,897 versus 3,075 for the same period last year.

Circulation revenue at the company is flat for the month of August.

Beginning this period, Detroit’s results have been fully consolidated in the financial statement of Gannett along with the minority interest charge to operations for MediaNews Group’s interest. In the newspaper swap with Knight Ridder, Gannett received the Tallahassee (Fla.) Democrat and cash consideration in exchange for three of its papers in Washington and Idaho. All previously reported results for the former Gannett properties will be reclassified to income from discontinued operations. In addition, a gain resulting from the exchange will be included in discontinued operations.

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