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Digital-print divide: Gannett profit falls 25pc on newspaper ad decline

Associated Press | New York Times :: The Gannett Company reported a 25% decline in first-quarter profit on Monday, as advertising in its newspapers continued to decline. The company, which owns 82 newspapers in the United States, including USA TODAY; 23 broadcast television stations; and several digital media properties, said it earned $68.2 million, or 28 cents a share, in the quarter, down from $90.5 million, or 37 cents a share, a year earlier.

[Gannett, First Quarter Results:] The company’s continued focus on digital solutions for its advertisers drove an increase of 12.5 percent in Publishing segment digital revenues (included in all of the categories above). Online revenues were up 13.5 percent at domestic publishing operations while at Newsquest they were 6.4 percent higher, in pounds. Digital revenues at U.S. Community Publishing were 11.2 percent higher driven by increases in auto, employment and retail. USA TODAY and its associated businesses reported digital revenue growth of 25.3 percent.

Continue to read Associated Press, www.nytimes.com

Gannett Reports First Quarter Results 04/16/2012, www.gannett.com, (PDF direct link)

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