Thursday, October 18, 2007

News-Leader owner rejects splitting, newspaper, TV interests

Gannett Co., owner of the Springfield News-Leader, does not plan to sell off its television interests, according to CEO Craig Dubow. According to Television Business Report:

So, he said, while Gannett's management has discussed possibilities, "our position has not changed." Broadcasting was one of the strong points for Gannett in Q3, with revenues down only 3.4% to 189.5 million, despite the loss of over 19 million in political advertising from a year earlier. TV revenues would have been down 5.1% on a same station basis, since two stations were acquired in 2006. Results from Gannett's newspapers in the UK also helped counter a drop in US newspaper ad sales. Newspaper ad revenues were down 5.6% to 1.19 billion. In all, Gannett's Q3 revenues were down 3.8% to 1.81 billion and net income fell 10.5% to 234 million, or one dollar and a penny per share.

No comments: