Gannett, which owns 23 stations across the country, experienced a slight dip in television revenues for the third quarter compared to the same period last year. The company is attributing the decrease to a decline in political advertising.
Gannett brought in $168.8 million in TV revenues for the quarter–$10.8 million less than last year’s Q3. Excluding an $18.4 million decrease in political advertising, though, revenues were 4.7% higher.
“The increase was due, in part, to strengthening demand for auto advertising in September,” the company stated in its press announcement this morning.
In addition to a higher demand for auto advertising in the quarter, Gannett experienced a 26.7% increase in retrans revenue and a 27.5% gain in online revenues for its stations.