Gannett, the newspaper company that also owns 21 television stations, on Wednesday reported a mixed bag of results, posting a 4.5 percent decline in second-quarter profit to $338.6 million, but a 3 percent increase in revenue to $1.94 billion.
At the company’s television stations, revenue fell 8 percent, which led to an overall revenue decline of 7 percent for the company’s broadcast division, which includes the office-entertainment service Captivate Network.
Gannett blamed the weaker television results on the lack of political advertising revenue during the quarter and weakness in some core advertising categories, including automotive.
Gannett Reports Mixed Q2 Results
Jul 13, 2005 • Post A Comment