Gannett March revenue dips |
|
|
|
Published
:
Thu, 19 Apr 2007 14:43
|
MCLEAN, Va. (AP) - Gannett Co., the nation's largest newspaper publisher, said Thursday March revenue fell nearly 1 percent, dragged down by a slump in newspaper advertising revenue.Revenue was down 0.8 percent to $652.6 million, as ad revenue fell 4.1 percent to $441.1 million. Adjusted to reflect ownership of the same properties in each period, March ad revenue fell 2 percent.Gannett, whose largest publication is the USA Today, owns nearly 90 newspapers and 23 television stations.Local adjusted ad revenue rose 1.8 percent, paced by higher grocery, health and restaurant ads. Department store, furniture and consumer electronics ad sales fell.Classified ads, which have increasingly been going to the Internet, plunged 5.1 percent to $186 million on an adjusted basis. Real estate revenue also slid, shedding 5.6 percent, hurt by a prolonged slump in the housing sector that has tempered buyers' demand.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
|
|
|
|
Print this Story
Gannett Feb. operating revenue drops 