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Gannett Earnings Decline by 22% (Dinosaur Media DeathWatch™)
http://online.wsj.com/article/SB10001424052702303795304576453780616225592.html?ru=yahoo&mod=yahoo_hs ^ | July 19, 2011 | Nathalie Tadena and Melodie Warner

Posted on 07/19/2011 5:31:37 AM PDT by abb

Gannett Co.'s second-quarter earnings fell 22% as advertising and circulation revenue continued sliding, though the company posted strong digital sales.

The media company saw its bottom line rise for most of last year, aided by cost cuts and revenue growth at its broadcast and digital operations. But the trend ended last quarter, as earnings fell on persistent declines in print advertising and circulation.

Advertising revenue fell 7% while circulation revenue dropped 2%. The broadcasting segment saw a 0.2% revenue increase while the digital business posted a 13% gain.

Overall, revenue declined 2.2% to $1.33 billion.

Gannett reported a profit of $151.5 million, or 62 cents a share, down from $195.5 million, or 81 cents a share, a year earlier. The most-recent quarter included charges related to facility consolidations, work-force restructuring and tax settlements. Excluding items, earnings dropped to 58 cents a share from 61 cents.

Operating margin narrowed to 18.1% from 20% as operating expenses grew slightly.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: advertising; circulation; dbm; gannett; liberalmedia; newspapers
Tuesday morning good news.
1 posted on 07/19/2011 5:31:51 AM PDT by abb
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To: abb

Yes!!!


2 posted on 07/19/2011 5:34:56 AM PDT by SanFranDan
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; Bahbah; bert; bilhosty; Caipirabob; carmenbmw; ...

ping


3 posted on 07/19/2011 5:35:07 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

Good News to start the day, may they go under before the next election.


4 posted on 07/19/2011 5:46:06 AM PDT by ReformedBeckite ( 1 of 3 I'm only allowing my self each day)
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To: abb

http://www.nytimes.com/2011/07/19/business/media/profit-at-gannett-fell-in-quarter.html?ref=media
Gannett Newspaper Revenue Falls 6.5% in Weak Ad Climate

http://www.bloomberg.com/news/2011-07-18/gannett-profit-declines-22-as-print-revenue-falls-dividend-is-doubled.html?cmpid=yhoo
Gannett Profit Declines 22% as Print Revenue Falls; Dividend Is Doubled

http://www.thisislondon.co.uk/standard-business/article-23970360-publisher-future-hit-by-slump-in-us-print-titles.do
Publisher Future hit by slump in US print titles

http://www.google.com/hostednews/ap/article/ALeqM5h0LHGk1g65Ey3lIIoftjmuejs1sA?docId=cccb67ef85d34c8e8d974f5d6de4f7f5
Tribune Co. reorganizes newspapers, cuts more jobs

http://newsafternewspapers.blogspot.com/2011/07/alden-global-capital-drops-shoe-is.html
Alden Global Capital drops a shoe: Is the Journal Register acquisition prelude to more consolidation?

http://recoveringjournalist.typepad.com/recovering_journalist/2011/07/american-newspapers-rise-and-fall.html
American Newspapers: Rise and Fall


5 posted on 07/19/2011 5:51:26 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: ReformedBeckite

A hundred freepers are about to assail you, pointing out that “They are soon to be unemployed Americans and this is a horrible thing.”


6 posted on 07/19/2011 6:10:40 AM PDT by Doctor 2Brains (If the government were Paris Hilton, it could not score a free drink in a bar full of lonely sailors)
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To: abb
Photobucket
7 posted on 07/19/2011 6:37:31 AM PDT by Clay Moore (The heart of the wise inclines to the right, but the heart of a fool to the left. Ecclesiastes 10:2)
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To: SanFranDan
The local rag is Gannett. I remember seeing one day. Church
bulletins had more pages A guy told me one morning, the
paper was so light, the delivery guy couldn't toss it onto the porches.

While I feel for the people, you can't for a company run by
propagandists. About 10 years ago, the city held a "public"
meeting that was only open to "women of color". A reporter
tried to get in, was refused, and he wrote a story about it
illegally excluding people from a public meeting based on
gender and race.

The "city" complained, Gannett complied, and fired the reporter.

The reporter got a nice settlement when he sued Gannett.

8 posted on 07/19/2011 6:40:35 AM PDT by Calvin Locke
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To: abb; All
Question for the group..

I've noticed that ABC's Rick Klein (whom I happen to like) seems to have become a near negualr on FOX. He's often on Greta's show, and he's been getting several stints on the Special Report panel..( and I'd take him over Maura Liasson any time)

He's probably gotten MORE on-air time ON FOX than on ABC. So, what does this mean? I assume ABC has to allow him to do this,as I assume he's getting paid by FOX. Is he moving to FOX? Does this mean any "developing relationship" between ABC and FOX to share reporters/news gathering as the political season heats up?

It's the last apir standing..MBC has its MSNBC tie-in..CBS and CNN and long been rumored to be dating, and there is a fair amount of sharing of stuff ( other than CNN correspondents who have a habit of leaving for FOX.

ABC is the last really unattached of the BIG three..and as they have NO cable news outlet..a link-up with FOX makes sense for both..

Thoughts?

9 posted on 07/19/2011 7:02:46 AM PDT by ken5050 (Save the earth..it's the ONLY planet with CHOCOLATE!!!)
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To: ken5050

Possibly. Theoretically, every publicly traded company is for sale every day, from 9:30 AM to 4:00 PM.

And they all have been sold/bought several times over the years. ABC started out as the NBC Blue network.

http://en.wikipedia.org/wiki/Blue_Network

http://www.marketwatch.com/story/would-disney-sell-abc-and-whod-buy-it-2010-04-21
Would Disney sell ABC? (Who’d buy it?)
Commentary: Or ABC News to partner with, say, Bloomberg?


10 posted on 07/19/2011 7:17:24 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: ken5050

An ABC-FOX hookup makes all kinds of business sense (plus they are in close physical proximity in New York).

But it will never happen for ideological reasons. I would not want to be a member of the ABC brass attending their first Cocktail Party after making this announcement.

Now if they can take Rupert Murdoch down with a phone hacking kerfluffle and force him to sell to ABC so they can turn FOX liberal....that scenario is certainly out there.


11 posted on 07/19/2011 7:18:24 AM PDT by Buckeye McFrog
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To: abb

Die die die dinosaur media!

No one wants your 1968 Hippie commune comments anymore.


12 posted on 07/19/2011 7:24:42 AM PDT by PATRIOT1876 (The only crimes that are 100% preventable are crimes committed by illegal aliens)
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To: abb

http://www.adweek.com/news/press/wsj-editorials-point-fingers-competition-133513
WSJ Editorials Point Fingers at the Competition

http://www.techdirt.com/articles/20110718/04055115139/newspapers-win-suit-against-google-get-their-wish-to-be-delisted-then-complain.shtml
Newspapers Win Suit Against Google, Get Their Wish To Be Delisted, Then Complain

http://thebrowser.com/interviews/jay-rosen-on-journalism-internet-age?page=full
Jay Rosen on Journalism in the Internet Age


13 posted on 07/19/2011 7:29:16 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: Buckeye McFrog

This Murdoch thing could really backfire on the State-Run Media. Suppose they made Ailes CEO of the whole company? After all, he knows how to make money.


14 posted on 07/19/2011 7:31:27 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

The LOndon hearing is wall to wall on all three cable nets..our debt crisis can’t compete


15 posted on 07/19/2011 7:57:26 AM PDT by ken5050 (Save the earth..it's the ONLY planet with CHOCOLATE!!!)
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To: abb
Tuesday morning good news.

Tuesday morning even better news ...

Bottom line: these clowns are terminal. It may take them another few years to finally give up the ghost, but like the NY Times, they will not survive in their present form with their present management for much longer.
16 posted on 07/19/2011 8:03:47 AM PDT by Zakeet (The Wee Wee's real birth certificate got shredded with his Rezko mortgage records)
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To: ken5050

What you’re witnessing is a direct attack by government on freedom of speech. The unspoken message is if you write or say unkind things about the political class, you will be hauled in front of a government committee and grilled.

And that’s what the State-Run Media wants in the United States.


17 posted on 07/19/2011 9:08:26 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: Zakeet
Corporations generally have two main reasons for buying back shares:

1. Strategic, as in trying to keeps shares away from someone who mght attempt to take over the company. Hardly the case here..I mean, who would want to own Gannett now?

2. When companies are sitting on idle cash, they assess how best to employ it..expanding the business, making aquisitions, increasing the dividend are the main choices. The rationale generally given for a share repurchase it that the board sees NO BETTER opportunity out there. Anyone wanna run that one up the flagpole.

It could be an attempt to prop up the stock price, but it's like spitting in the ocean...ain't gonna do much good. They'd be far better off saving the $$ for severance packages..

18 posted on 07/19/2011 9:42:02 AM PDT by ken5050 (Save the earth..it's the ONLY planet with CHOCOLATE!!!)
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To: abb

CHICAGO Tribune to Print the Sun-Times
Tuesday, Jul 19, 2011 | Updated 10:34 PM CDT

The relinquishing of print and distribution duties, however, means that Sun-Times Media will be forced to cut several hundred jobs, although some of the layoffs could be offset by the 100 or so jobs to be added by the Tribune.

Source: http://www.nbcchicago.com/news/local/tribune-sun-times-printing-125863799.html#ixzz1Selv94Ts


19 posted on 07/20/2011 7:59:14 AM PDT by KeyLargo
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To: Zakeet

Zakeet, I always enjoy your analysis. I don’t remember a time that you didn’t seem “spot-on.”


20 posted on 07/22/2011 5:53:22 PM PDT by ConservativeMind ("Humane" = "Don't pen up pets or eat meat, but allow infanticide, abortion, and euthanasia.")
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