Gannett 3Q Profits Up 37 Percent

Posted Friday, October 15, 2010 12:00 am

By: E&P Staff

As expected, Gannett posted a sizeable jump in 3Q profits Friday morning, with a big push coming from political advertisements on its 23 television stations.

While Gannett's increase in revenue from online advertisements bodes well for other media companies, print advertising across the company's 80 dailies were still down. Yahoo Finance reports:

"The continued decline in print advertising revenue - down 5.1 percent in the quarter - is not a good sign for other publishers. The New York Times Co. and McClatchy Co., owner of The Miami Herald and The Sacramento (Calif.) Bee, report results next week and neither have TV stations to lean on."

This is the first time Gannett Co. has been able to halt declining revenue since 2006.

See related story.

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Gannett 3Q Profits Up 37 Percent

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