By: E&P Staff With no Easter in the month, April was a cruel month at Gannett Co., with the nation's largest newspaper company reporting operating revenue down 7.7% on publishing advertising revenue that slumped 10.4% compared to the same period in 2007.
For its fourth period ended May 4, classified revenues at its U.S. community papers dropped 20% on continued steep declines in key categories. Real estate plunged 27.3%, while help-wanted dropped 28%, and automotive was down 11.3%.
Retail advertising revenue slipped 6.1%, led by softness in the furniture, entertainment and telecommunications categories. Gannett said its home improvement category was "slightly positive" for the month.
April national advertising revenue was off 8.2%.
At USA TODAY, advertising revenue was down 6.4% on paid ad pages of 335, compared to 381 last April. Gannett said strength in the travel, financial, automotive, restaurants and advocacy categories was offset by softness in the entertainment, technology, retail and telecommunications categories.
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