Gannett ad sales still dropping despite 3Q profit (Dinosaur Media DeathWatch™)

Yahoo Finance ^ | October 19, 2009 | Staff

[abb]

Cost cutting produced a solidly profitable third quarter for Gannett Co. But the latest financial results for the country's largest newspaper publisher show another big decline in ad revenue.

Gannett owns USA Today, more than 80 other newspapers and 23 television stations. Its earnings Monday follow a similar report last week from McClatchy Co., another big newspaper owner that has managed to profit even as its main revenue source withers.

Gannett's ad sales in its publishing division dropped 28 percent from a year ago. That follows a 32 percent decline in the second quarter and a 34 percent decline in the first.

Layoffs and other belt-tightening moves helped the McLean, Va.-based company earn $73.8 million, or 31 cents per share.

[gunner03]

They also own the Marine Corps times, Navy times, Air Force times, etc. Destroyed them all.

[abb]

http://www.niemanlab.org/2009/10/an-important-analysis-of-nonprofit-law-for-newspapers/http://www.niemanlab.org/2009/10/an-important-analysis-of-nonprofit-law-for-newspapers/
An important analysis of nonprofit law for newspapers

[Landru]

"In the end the powers that be foist yet another "feel good" ruse on the masses to actually worsen the situation."

Yup, you nail it again my friend.
As I said to another esteemed poster on a different thread concerning autos et al?
They'll slowly & incrementally continue removing choiceS until one day there's only one. Theirs.

And those masses STILL won't have figured it out.

[MovementConservative]

They made a profit. Good for them. I still celebrate them withering away. Keep cutting Gannett. The shareholders love you, and the Dinosaur Media Deathwatch love you too.