Gannett Reports 7.9% Increase in Q1 TV Revenue

By Merrill Knox Comment

Gannett today reported earnings figures for the first quarter of 2012 that included $170.9 million in television revenues, a 7.9% increase compared to the first quarter of last year.

The increase was attributed to advertising associated with the Super Bowl, as well as increased political advertising. Gannett also said retransmission revenues were 17% higher and television station digital revenues were 6.4% higher than Q1 2011.

“Our first quarter results were impacted by spending on strategic investments and advertising softness, particularly during January’s industry-wide slowdown,” Gracia Martore, Gannett’s president and CEO, said in a statement.  “Improving advertising activity in February and March, while encouraging, did not overcome the slow start to the year. Importantly, each of our businesses remained solidly profitable, and our Broadcasting and Digital segments delivered strong revenue growth of 8% and 7%, respectively.”