Gannett Profits Continue Rise

Gannett Co. (GCI) reported Q2 2010 earnings this morning of $146.5 million, a 35 percent increase from a year prior and a jump from Q1 2010 when the company brought in $117.2 million.
This includes a 20 percent increase in publishing profit, to $180.3 million, even as ad revenue fell 5.7 percent and circulation revenue fell 5.9 percent.
Gannett’s broadcasting division, meanwhile, making up just 10 percent of the company’s income, saw revenue rise 20 percent to $184 million.
The company also announced an advertising partnership with Yahoo; Gannett’s 81 local newspapers and seven of its broadcasting division sites will sell Yahoo! ad inventory.