Gannett Reports Extensive October Revenue Declines; Online Broadcast Revs Up 30 Percent


Having announced plans to cut 45 newsroom jobs at USA Today, Gannett’s (NYSE: GCI) October report revealed across the company. About the only bright spot: online revenues for its broadcasting segment, which were up 30 percent compared to October 2006. (Gannett didn’t provide online info for print or for the company.) Overall, total advertising was $461 million for October, a decline of 5.3 percent from last year’s $486.6 million; total revenue dropped 6.8 percent to $710 million from $762 million in October 2006. Release

Gannett’s October woes included:

USAT’s ad revenues dropped 6.1 percent on paid ad pages of 369 versus 419 last year. Weakness in the travel, automotive, telecommunications and real estate categories offset growth in other areas.

— Gannett’s overall newspaper ad revenues were down 5.3 percent from last year. National and local ad dollars each fell 2.3 percent, to $78 million and $209.2 million, respectively. Classified ads plunged 9.7 percent to $173 million.

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