Broadcasting & Cable
Gannett reported fourth quarter broadcasting revenue of $183.2 million in the fourth quarter of last year, a 13.9% decrease from the fourth quarter of 2008. While last year’s quarter lacked substantial political advertising, Gannett said “almost three-fold” retransmission revenues and strong growth in its elevator-programming Captivate division helped make up the loss.
Television revenues, which exclude Captivate, were $174.5 million, compared to $205.6 million in the fourth quarter the previous year, reflecting a $47.5 million decrease in political ad demand.
Gannett’s publishing division saw operating revenues of $1.1 billion, compared to $1.4 billion in the fourth quarter of 2008.
“As the year progressed, we continuously showed improvements in revenue comparisons and in the permanent restructure of our cost base, culminating in a strong finish to the year,” said Gannett Chairman/President/CEO Craig Dubow. More…