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Gannett 4th-Quarter Profit Drops 36%

Jan 30, 2009  •  Post A Comment

Gannett’s fourth-quarter profit dropped 36% on lower advertising sales and expenses to cut jobs, while revenue slipped 8.5%, Bloomberg News reports. Sales at its broadcast unit were little changed, with a jump in political ads offsetting cuts from auto and retail ads, while ad revenue at the company’s newspaper division declined 23%, the news service says.
—Aimee Picchi

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