Gannett Reports Q1 Ad Revenue Dive

In the first of the major newspaper earnings reports for the 1Q, Gannett Co., Inc. reported today that 2009 first quarter earnings per diluted share were $0.34 compared with $0.84 per share in the first quarter of 2008.

In the publishing sector, ad revenues were off just over 28 percent, and 33.5 percent at flagship USA Today. Overall revenue decline for newspapers was 26.9 percent vs. 2008.

Circulation revenue climbed 1 percent based on single copy price increases.

“Although business conditions remain very challenging, we continue to transform all facets of the company as we position it for a more favorable economic environment and the opportunities we see in the changing media landscape,” Craig Dubow, the CEO and chairman, said in a statement.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in