Olympics, Political Ad Spending Boost Gannett TV Revenue to 38% Increase in Q3

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By Merrill Knox Comments

Gannett today reported earnings figures for the third quarter of 2012 that included $233 million in television revenues, a +38.1% increase compared to the third quarter of last year.

Revenue growth was driven by $42 million in political ads and $37 million in ads related to the Summer Olympics, according to Gannett. The company also reported retransmission revenues of $22.3 million, an increase of +11.5% this quarter.

“Our TV stations leveraged top 10 ratings positions and a more locally focused sales effort to generate substantially higher Olympic spending,” Gannett president and CEO Gracia Martore said in a statement. “Through strong ratings and a great footprint, they also maximized the opportunity to attract political spending.”