Gannett's Second Quarter Results Show Hope; Publishing Division's Revenues Grim

Financial results released today may give some insight into Gannett Co. Inc.’s decision to lay off a large number of its daily newspaper staffers earlier this month.

This morning, Gannett (NYSE: GCI) reported earnings of $70.5 million, or 30 cents per share for the second quarter of 2009. These earnings look good compared to the second quarter of last year, when the company too a loss of $2.29 billion, or $10.03 per share, thanks to a write-down

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