Skip to comments.Gannett Co. Second Quarter Results (Revenues plummet - Dinosaur Media DeathWatch™)
Posted on 07/15/2009 5:37:15 AM PDT by abb
Gannett Co., Inc. (NYSE: GCI - News) reported today that 2009 second quarter earnings per diluted share were $0.30 compared to a net loss per share of $10.03 for the second quarter of 2008. Results for both quarters included several special items noted below. Earnings per diluted share for the second quarter of 2009, excluding those items, were $0.46. Earnings per diluted share for the second quarter of 2008 on a comparable basis were $1.04.
Weakness in the economies of the U.S. and UK resulted in continued downward pressure on revenues. Total reported operating revenues for the company were $1.4 billion in the second quarter compared to $1.7 billion in the second quarter of 2008.
Publishing segment operating revenues were $1.1 billion for the quarter, a 25.8 percent decline from the same quarter a year ago.
Broadcasting revenues (which include Captivate) were $153.0 million in the quarter compared to $192.6 million in the same quarter a year ago.
(Excerpt) Read more at finance.yahoo.com ...
Smells like the birth of Pravda US. Thank heaven for the nature of the Internet and the difficulty despots have in controlling it.
Being relentless and harsh pays off for Deadline Hollywood Daily’s Nikki Finke
The Internet journalist has become must reading for The Industry, which can’t help but admire the million-dollar sale of her website.
Eight questions for Jacob Weisberg
A Decade of Evaporating Ad Pages for BusinessWeek, Forbes, Fortune
BBC Resists a Move to Give Part of Its License Fee to Other Broadcasters
BBC Looks to Trim Costs
Regional newspaper firms could make local TV news, say Tories
Not BusinessWeek as usual
Yes. While Gannett continue to slash payroll to cut expenses, note the revenues are declining at a faster rate.
It takes no financial wizard to see how this will come out.
I don't count Gannett out nearly as soon as I would like.
By the way, I get to make a fit next week over the free USA Today I will be given at my hotel. I expect to yell in the lobby until I am given the cost of that paper back to me, as it was built-in to my cost.
I hate Gannett.
The cost-cutting can only go so far. At some point, they physically won’t have enough people to report the stories, run the presses and drive the delivery trucks.
Mainstream Media Mum on Wal-Mart Scoop
Open for Business
Is Politico a news organization, a meme organization, or what?
Is BusinessWeek Worth $1?
Online Audiences Watching More Long-form Videos
Tripping the future
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.