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Gannett Reports Rise in Q4 Broadcast Revenue

Jan 26, 2005  •  Post A Comment

Gannett reported Wednesday that its broadcast group, which includes 21 network-affiliated television stations, posted a 19 percent rise in fourth-quarter revenue to $233.4 million, driven largely by robust political advertising spending in the period.

For the year, the broadcast unit reported a 14 percent increase in revenue to $1.2 billion. Included in the broadcast group’s results is in-office entertainment service Captivate, which the company purchased in April 2004.

The group’s results helped Gannett post a 6 percent increase in fourth-quarter profit to $378.1 million on an 8 percent rise in revenue to $1.9 billion. For the year, Gannett’s profit was up 9 percent to $1.3 billion on a 10 percent jump in revenue to $7.4 billion.