Gannett Reports Mixed Q2 Results

Jul 13, 2005  •  Post A Comment

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.