By: Mark Fitzgerald Only about half of publicly traded newspaper companies release monthly reports on their finances, but Gannett has been since about 1990. So it?s announcement Friday that it was dropping the reports not only raised eyebrows -- it sparked criticism by analysts during the company?s third-quarter earnings conference call.
"This the single worst time to provide less information," Barclays Capital analyst Craig Huber said, referring to the roiling markets. "You don?t stop publishing newspapers when the news is really bad. Why are you stopping (monthly reporting) now?"
Gannett said it was dropping the monthly reporting because its digital businesses -- which can account for as much as 15% to 20% of revenue -- is so volatile month-to-month that it gives a distorted picture of its finances.
Details and "dialogue" on the contretemps are at E&P?s Fitz & Jen Give You The Business blog.
Fitz & Jen blog
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