Gannett July Revenues Off 4.3% As Ad Woes Extend To 'USA Today'

By: E&P Staff Gannett Co., the nation's largest newspaper publisher, reported Monday that its same-property operating revenues fell 4.3% as double-digit advertising revenue declines across its 80-plus dailies extended to its national flagship USA Today.

McLean, Va.-based Gannett said its pro forma operating revenue results would have been even worse were it not for the strengthening pound in Great Britain, where it publishes the Newsquest group of papers. For the seventh period ended Aug. 5, 2007 total pro forma operating revenues calculated on a same-exchange-rate basis would have been 5.7% lower than in 2006, Gannett said.

At USA Today, advertising revenues plunged 15.9% on paid ad pages that fell to 276 from 334 in the year-ago period. Gannett said growth in the entertainment, pharmaceutical and restaurant categories at the national paper was offset by declines in the automotive, technology, retail, advocacy, and home and building categories.

Local advertising revenues in the U.S. fell 2.8% in July on declines in all major categories except consumer electronics and telecommunications, Gannett said.

At its U.S. community papers, Gannett said, classified revenues fell 13.5% in July, on declines of 19.7% in real estate, 12.4% in employment, and 14.8% in automotive.