Q3 Earnings: Gannett Broadcast Revenue Falls 14%

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By Merrill Knox

gannett logoGannett Co. reported $203.4 million in broadcast segment revenues for the third quarter of 2013, a 14.2% decline from the year-ago quarter. The decrease “reflects the absence of Olympic and political spending partially offset by significant growth in retransmission revenue and digital revenue growth of 20.7 percent,” according to Gannett.

Television revenues were $198.5 million, down from $233.0 million in the third quarter of 2012. Retransmission revenues were up 62.8%.

“We are also pleased that during the quarter, Belo shareholders approved the pending acquisition, and we continue to anticipate bringing the transaction to a close following the attainment of regulatory approvals,” Gannett CEO Gracia Martore said in a statement. “We are working towards a seamless integration that will accelerate our transformation and create an even stronger Gannett.”