Earnings: Gray Television Revenue Drops 14%, Scripps Networks' Down 7%, GateHouse Loses 10 Mil

Gray Television, which owns 36 television stations, reported a 14 percent drop in revenue today, and a $8.9 million loss. Last year during the same time period the company lost over $3 million, and the situation appears to be getting no better.

Meanwhile, GateHouse Media, which publishes 92 community dailies, reported a 15 percent decline in revenue and a $10.3 million loss. The company had a $200,000 profit last year (talk about tiny margins). Revenue dropped because of—what else?—a decline in classified advertising.

And