Posted on 06/18/2007 6:25:45 AM PDT by abb
Gannett May Revenue Falls on Continued Classified Weakness, Broadcasting Decline
MCLEAN, Va. (AP) -- Gannett Co., publisher of USA Today, said Monday revenue slid 6 percent in May on continued classified advertising weakness and broadcasting declines. Operating revenue for the month ended June 3 dropped to $606.3 million from $644.7 million in the prior year. The company's U.K. operations benefited from an increase in the value of the British pound.
Total ad revenue declined 6.8 percent, with classified sliding 8 percent and national ad sales falling 5.4 percent.
Broadcasting revenue dipped 8.9 percent due to fewer political ads. Television revenue sagged 9.5 percent on lower local and national revenue.
Ping
Makes you wonder if the media pushes longer and more intense campaign cycles to increase their ad revenue.
Yes. This is precisely why the Drive-Bys are pushing the '08 elections so early. They need the ad revenue.
http://quote.morningstar.com/Quote/Quote.aspx?ticker=MNI
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Q: We are ... ripped by the right-wing conservative talk show hosts and others who just brand the mainstream media as worthless. Do we deserve that? ... And what can we do about it?
A: Well, when I travel across the country, my amusement comes from Rush Limbaugh's show. I find that that's one of the funniest programs on the air. I don't become offended by the idiotic things he says; I become amused by them. But I also think that from my perspective that it's OK for idiots like him to voice their opinion because that's what this country is about and that's what the First Amendment is about. I might add that I have become convinced, although a little reluctantly, that all the bloggers on the Internet have a right to all of their stupidity, too. And there's a lot of it.
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