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Gannett Co. Second Quarter Results (Revenues plummet - Dinosaur Media DeathWatch™)
Yahoo Finance ^ | July 15, 2009 | Staff

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.

snip

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.

snip

Publishing segment operating revenues were $1.1 billion for the quarter, a 25.8 percent decline from the same quarter a year ago.

snip

Broadcasting revenues (which include Captivate) were $153.0 million in the quarter compared to $192.6 million in the same quarter a year ago.

snip

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: advertising; dbm; gannett; mediadeathwatch; newspapers
Wednesday morning good news.
1 posted on 07/15/2009 5:37:16 AM PDT by abb
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Caipirabob; ...

ping


2 posted on 07/15/2009 5:37:54 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

Smells like the birth of Pravda US. Thank heaven for the nature of the Internet and the difficulty despots have in controlling it.


3 posted on 07/15/2009 5:39:30 AM PDT by Steamburg ( Your wallet speaks the only language most politicians understand.)
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To: abb

http://www.latimes.com/entertainment/news/la-et-onthemedia15-2009jul15,0,365872,full.column

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.

http://www.economist.com/blogs/democracyinamerica/2009/07/eight_questions_for_jacob_weis.cfm
Eight questions for Jacob Weisberg


4 posted on 07/15/2009 5:41:31 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://adage.com/mediaworks/article?article_id=137932
A Decade of Evaporating Ad Pages for BusinessWeek, Forbes, Fortune

http://www.nytimes.com/2009/07/15/business/media/15bbc.html?ref=media
BBC Resists a Move to Give Part of Its License Fee to Other Broadcasters

http://online.wsj.com/article/SB124757366683238381.html
BBC Looks to Trim Costs

http://www.guardian.co.uk/media/2009/jul/15/newspaper-firms-local-tv-news
Regional newspaper firms could make local TV news, say Tories


5 posted on 07/15/2009 6:11:16 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://newsosaur.blogspot.com/
Not BusinessWeek as usual


6 posted on 07/15/2009 6:17:52 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
More goodies worth noting in the rather lengthy article:

etc.
7 posted on 07/15/2009 6:50:11 AM PDT by Zakeet (Obama: Always wrong, never in doubt.)
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To: Zakeet

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.


8 posted on 07/15/2009 7:01:41 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
Well, at least for how they are doing it now.

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.

9 posted on 07/15/2009 7:48:41 AM PDT by ConservativeMind (The UN has never won a war, nor a conflict, but liberals want it to rule all militaries.)
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To: ConservativeMind

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.


10 posted on 07/15/2009 8:08:11 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.thebigmoney.com/blogs/sausage/2009/07/14/mainstream-media-mum-wal-mart-scoop
Mainstream Media Mum on Wal-Mart Scoop

http://www.cjr.org/feature/open_for_business.php?page=all
Open for Business

http://www.niemanlab.org/2009/07/is-politico-a-news-organization-a-meme-organization-or-what/
Is Politico a news organization, a meme organization, or what?

http://www.huffingtonpost.com/alan-m-webber/is-businessweek-worth-1_b_233013.html
Is BusinessWeek Worth $1?


11 posted on 07/15/2009 9:21:26 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.poynter.org/column.asp?id=31&aid=166616
Online Audiences Watching More Long-form Videos

http://www.buzzmachine.com/
Tripping the future


12 posted on 07/15/2009 9:30:45 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: Zakeet
They are turning balance sheet assets into income? Sounds like a last chance desperate move.
13 posted on 07/15/2009 12:56:12 PM PDT by Lucius Cornelius Sulla ("men of intemperate minds cannot be free. Their passions forge their fetters." -- Edmund Burke)
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