[Grampa Dave]

I believe that this is the first profit report for the first quarter by a major dinosaur fishwrap.

Sounds like Gannett has borrowed a few words from Enron and Arthur Andersen to explain their first quarter loss.

[FormerACLUmember]

Die, democrat party propagandists, die!

[Grampa Dave]

A little bit of Enronning and Arthur Andersening of the GCI's stock holders in this article:

"Revenues rose 6.5 percent to $1.88 billion from $1.77 billion in the same period a year ago."

"The increase was mainly due to the consolidation of the Detroit Free Press, which it acquired from Knight Ridder Inc. in August of last year and then combined into a partnership with The Detroit News, which MediaNews Group Inc. bought from Gannett."

"Excluding the Detroit transaction other newspaper deals, Gannett's revenues would have edged down 0.5 percent in the quarter from the same period a year ago."

Nothing like adding the acquistion to this quarter's revenues an an attempt to show an increase in revenue.

[Miss Marple]

I have been waiting for this. As you may now, my city has one paper, and it is a Gannett one. We only take the Sunday paper because we want the ads. They called us and told us we would be getting the Thursday paper (grocery ads) free. I bet the grocery stores started pressing for lower ad rates becaue of the much lower weekday circulation.

All I can say is: HAHAHA!

[Grampa Dave]

Below is the 6 month stock chart for GCI/Gannett, the #1 Fishwrap company versus SPY/S&P 500.

[manwiththehands]

Shaudenfreude!

[Common Tator]

Newspapers depend mostly on advertising to make a profit.

What most people don't understand is the advertising business is its worst in a boom. No matter what the media says we are in an economic boom with 4.7 percent unemployment.

What does that mean? It means sales are good. In good economic times goods move off the shelves with little effort. Stores don't need to advertise. When the economy starts to falter, stores realize they have to do something to move the inventory.. so they increase advertising.

As the economy gets worse and worse they have to spend more on advertising to move goods.

As the economy starts to pick up and goods start to move again, stores cut advertising budgets.

The bottom of a recession is a good time to be in the advertisting business.

[Malesherbes]

First the bad news: Iran is going nuclear; then the good news: fishwraps are going broke.

[Lancey Howard]

This is hopefully a trend that will continue now that most publications have decided that it's too risky to continue inflating circulation figures. The sooner the dinosaur liberal news media dies off, the better the prospects for decent America to repel Democrat attempts to turn the nation into a Euro-style, secular-socialist welfare state and make it as great as.... France.

[The South Texan]

I am deeply saddened. Not !!

[Grampa Dave]

http://biz.yahoo.com/ap/060412/wall_street.html?.v=23

Gannett Co., the largest newspaper publisher in the country, fell $1.06 to $57.76 after it reported an 11.5 percent decline in profit as the company began expensing stock options and recording costs from its new newspaper partnership in Detroit.