Wednesday, July 18, 2007

Gannett's bottom line helped by sale of newspapers to GateHouse Media

Gannett Co. second quarter profits increased 18 percent, thanks in large part to its sale of four newspapers to GateHouse Media.
Gannett's net income was $365.7 million, up from $310.5 million a year earlier. Sales were down 3.4 percent.
GateHouse bought the four newspapers in May for $410 million.

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