Newspaper Stocks Trade Lower As Gannett October Revenue Declines

By: Shares of newspaper publishers traded lower on Monday as Gannett Co. said its October revenue fell 6.8 percent, mostly on declines in local and classified advertising sales.

The publisher of USA Today said pro forma operating revenue dropped to $710.4 million from $762.5 million in the prior year. Pro forma assumes all properties currently owned were owned in both periods.

Total advertising revenue slipped 5.3 percent to $461.1 million from $486.7 million, Gannett said.

Here's how some newspaper publishers performed on Monday:

Gannett down $2.05, or 5.2 percent, to $37.49.

Tribune Co. down 92 cents, or 3.1 percent, to $29.10.

New York Times Co. down 78 cents, or 4.2 percent, to $18.03.

McClatchy Co. down 65 cents, or 4.1 percent, to $15.25.

News Corp. down 33 cents to $21.43.