Gannett ad sales still dropping despite 3Q profit (Dinosaur Media DeathWatch™)

Yahoo Finance ^ | October 19, 2009 | Staff

[abb]

Cost cutting produced a solidly profitable third quarter for Gannett Co. But the latest financial results for the country's largest newspaper publisher show another big decline in ad revenue.

Gannett owns USA Today, more than 80 other newspapers and 23 television stations. Its earnings Monday follow a similar report last week from McClatchy Co., another big newspaper owner that has managed to profit even as its main revenue source withers.

Gannett's ad sales in its publishing division dropped 28 percent from a year ago. That follows a 32 percent decline in the second quarter and a 34 percent decline in the first.

Layoffs and other belt-tightening moves helped the McLean, Va.-based company earn $73.8 million, or 31 cents per share.

[abb]

Monday morning good news.

[abb]

ping

[Sacajaweau]

My daughter just dropped the newspaper after 25 years.

[IbJensen]

Yes. Finally some good news!

Gannett owns the local rag where I live, 'Florida Today.' My subscription was cancelled within weeks after moving here.

[jmaroneps37]

I LOVE IT!

[Texas resident]

Isn’t this the same media that openly campaigned for dimrat rule? How’s that hopey changey thing working out for you media types? A negative cash flow will get your attention awfully fast.

[GeronL]

and the economic recovery continues...

[LonePalm]

I got a sales call from the Asbury Park Press last week.

I politely explained to the young lady that called that I would not accept the paper if they delivered it to me for free. She asked me why. I told her, "Because the value of the paper is less than the effort carry it to the recycle bin."

She hung up.

Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)
LonePalm, le Républicain du verre cassé (The Broken Glass Republican)

[Tribune7]

As newspapers began bleeding circulation in the 90s their profits skyrocketed. They were charging the same amount for ads with much lower newsprint cost.

If Gannett finds its sweet spot it could muddle on indefinitely. Of course, fewer readers means much less influence.

[abb]

http://adage.com/mediaworks/article?article_id=139747
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http://www.nytimes.com/2009/10/19/business/media/19carr.html?ref=media
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[abb]

http://www.washingtonpost.com/wp-dyn/content/article/2009/10/19/AR2009101900903.html
New age journalism

http://www.smartmoney.com/news/ON/?story=ON-20091016-000730-1658
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[Landru]

Morin', walt.
Yes, the good news just keeps on comin'. Yet it never seems to make "The News", save for your eagle-like eyes catching it somewhere. LOL Usual thanks, my friend.

"Cost cutting produced a solidly profitable third quarter for Gannett Co"... and in the very next paragraph, "But the latest financial results for the country's largest newspaper publisher show another big decline in ad revenue."

How's it possible, who's zoomin' who here.
Good grief.
When the doors are locked on these joints how're they going to frame it? "Yellow Press closes after 150 years, value of their real estate soars." ??

Is THIS the crap the ignoramus urinalists are actually taught these days? This is a LOT more than common denial, "spinning" or even decent propaganda. It's sick, borderline psychotic where the only cure's bankruptcy, liquidation sales and unemployment for the afflicted offenders.

"Gannett owns USA Today, more than 80 other newspapers and 23 television stations."

The condition(s) permitting the above has really been bothering me. Trying to remember what "Law" {spit} was enacted and/or repealed allowing this condition.

What ever [it] or wasn't it's been *&* is the death knell for an entire industry and quite likely the Republic, itself.

[abb]

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=115645
Internet Only Medium To Gain, Albeit More Slowly

http://www.mediapost.com/publications/?fa=Articles.showArticle&art_aid=115643
Nielsen To Add Internet Meters To Entire TV Ratings Sample: Timing, Integration TBD

http://www.washingtonpost.com/wp-dyn/content/discussion/2009/10/12/DI2009101201943.html
Ask the Post: Executive editor takes your questions

http://www.poynter.org/column.asp?id=123&aid=171902
Downie, Columbia Study: Government Must Fund Some News

http://recoveringjournalist.typepad.com/recovering_journalist/
Twitter and Breaking News

[abb]

The only way newspapers have been able to stay afloat is by cutting head count. This past quarter saw a big decline in the cost of newsprint, which is a significant cost item.

Cutting head count can only go so far - at some point you will not have the people to physically do all that is required to publish a print product.

At any rate, as circulation declines, there is a corresponding decline in influence.

[aimhigh]

Our local Gannet paper is merely a Democrat party newsletter. It should title itself as the Liberal Hotbutton. They only select news items that promote liberal issues. I canceled it years ago.

[Landru]

"The only way newspapers have been able to stay afloat is by cutting head count. This past quarter saw a big decline in the cost of newsprint, which is a significant cost item."

No doubt, I clearly recall working the "dock area" at The Milwaukee Journal on The Sentinel side & watching the flatbeds come in loaded with enormous rolls of newsprint stock ready to be offloaded into the feeders.
Even in those years that material couldn't have been "cheap", today it has to be outrageous.

"Cutting head count can only go so far - at some point you will not have the people to physically do all that is required to publish a print product."

Guess [that] was my point, my friend.
When *&* where's the bottom where the other rub concerning multi-ownership not so critical. That unsavory condition will take care of itself in short order and I'm nothing if not patient. LOL

"At any rate, as circulation declines, there is a corresponding decline in influence."

Indeed.
Very essence of the "good news" in your morning pings, abb.
Now that part I get. LOL

[Landru]

"Our local Gannet paper is merely a Democrat party newsletter."

Well all their properties are, my friend. Little more than the "media wing" of the LIberal-Socialist left.

In any event you articulate precisely my problem with so many newspapers and TV/radio stations owned by one entity. It isn't a variety of POVs, it's really only one.

But as I said to abb, methinks that condition will take care of itself as one by one the properties cack. No sense getting all bent outa shape over something that'll take care of itself. Right? ;^)

"It should title itself as the Liberal Hotbutton. They only select news items that promote liberal issues."

And here's the salt in the wound.
The rags generate little if anything of their own volition, they're BUYING it from the likes of The Associated Press [a.ka Associated Quislings] & a few other carp-like outfits such as Reuters and Bloomberg. Bloomberg, BTW, isn't *it* a property owned by a certain Republican wannabe mayor of NYCity? Good grief.

"I canceled it years ago."

Yup, as did I and millions of others.
All for "just cause", too; but, did the brain-bugs owning/managing/writing get it? Noooo.

It's clearly obvious they're more than content to destroy the businesses and until they have successfully done 'em in? They continue to take their cheap shops at the Republic, promote everything *&* everything under the sun decent as they go down, too.

They must die alright and while it'll be by their own hand they do, it cannot happen soon enough to suit this old goat. LOL

BTW, your profile said "bald".
Make note: It ain't "bald", it's perfect. ;^)

[Milhous]

"Because the value of the paper is less than the effort carry it to the recycle bin."

The perfect opening for me to share one of my pet peeves. Every day the green hypocrites of the powers that be trash my planet both figuratively and literally. Then the Goebbels gang guilts the masses into cleaning up the mess for nada.

My engineer's intuition tells me that lots of little people trucking trash to recycle bins leaves behind a far larger carbon footprint than simply throwing fishwrap out with the rest of the efficiently collected garbage. In the end the powers that be foist yet another "feel good" ruse on the masses to actually worsen the situation.

[conservatism_IS_compassion]

Bump.

[abb]

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004023404
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http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1004023383
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http://boston.bizjournals.com/boston/stories/2009/10/19/daily5.html
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