Gannett Shares Sink on Newspaper Ad Decline

Posted
By: Reuters

USA Today publisher Gannett Co. reported a severe decline in advertising revenue at its newspaper division, pointing to a pullback in consumer and business spending.

While the broadcasting and newspaper company met Wall Street's revenue and profit expectations, investors sent shares down 7.8 percent to $10.09 in Monday morning trade on concerns of Gannett's deteriorating newspaper business.































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