Gracia Martore Named President, COO of Gannett

Gracia Martore was named to the new position of president and chief operating officer for Gannett. Most recently executive vp and chief financial officer, Martore will continue to serve as CFO until a new CFO is appointed.

In her new position announced Monday (Feb. 1), Martore will be responsible for managing the day-to-day operations of the company, which includes publishing TV broadcasting and digital segments. She will continue to report to Craig Dubow, chairman and chief executive officer.

In a conference call with analysts, Dubow said promoting Martore to the new position would allow him to concentrate on the longterm strategic direction of the company.

Gannett reported a fourth-quarter profit of $133.6 million. Publishing revenue declined 15.4 percent to $1.1 billion. Broadcasting revenue (excluding Captivate) was down 13.9 percent to $183.2 million. Digital revenue was down 7.2 percent to $157.7 million. Total operating revenue for the full year declined 17.1 percent to $5.6 billion.

Factoring out political in 2008, TV revenue in 2009 would have been up 11.1 percent, the company noted. For first quarter, TV advertising is expected grow in the very high single digits, boosted by Olympics advertising.
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