Lower Broadcasting Revenue Hurts Gannett
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DATELINE -- Gannett Co., the largest newspaper publisher in the United States, said Friday its fiscal fourth-quarter profit dropped 31 percent on a decline in broadcasting revenue and weak newspaper ad sales.
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Gannett Co. (NYSE:GCI) , the largest newspaper publisher in the country and owner of USA Today, reported increased profits from the second quarter on Wednesday on the sale of several newspapers. Excluding the gain, earnings fell on weaker advertising.
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Clear Channel Communications Inc.&#39;s third-quarter profit fell nearly 60 percent from the same period in 2003, which had been inflated by the nation&#39;s largest radio station operator&#39;s sale of its stake in a Spanish-language broadcasting network.
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Some say talk is cheap. But not for the best-paid talk show hosts on television and radio.
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EBay will once again advertise on Google's U.S. AdWords network, but its spending on it will be significantly lower.
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NEVER surprise the market with a profit downgrading or the shares of your company will be severely caned. A slumping advertising share saw a surly Kerry Stokes yesterday issue a major earnings downgrade for the Seven Network.
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Tribune said its third-quarter earnings dropped 7 percent, beating expectations, adding that the housing slump and lower consumer spending worsened advertising revenue.
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Publisher and broadcaster Tribune Co.  TRB.N on Wednesday said third-quarter earnings would lag Wall  Street estimates, hurt by lower-than-expected political  advertising at its television stations.
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The newspaper publisher reported profit of $365.7 million on the sale of several newspapers. Excluding the gain, earnings fell on weaker advertising.
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Publisher and broadcaster Tribune Co.  on Wednesday said third-quarter earnings would lag Wall Street estimates because of lower-than-expected publishing and broadcasting revenue.
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Sales were lower than expected, and the quality of earnings is in question.
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A fall in ad revenue leads reporters and editors at the Wall Street Journal worry that their jobs may be in jeopardy if Dow Jones stays independent.
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eBay will once again advertise on Google's U.S. AdWords network, but its spending on it will be significantly lower.
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Clear Channel Communications Inc. , the top U.S. radio conglomerate, on Friday posted a quarterly profit but said radio advertising continued to suffer.
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Government orders Rupert Murdoch's network to sell down from 17.9% to 7.5%
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Advertising revenue was down by 8.5% in May; it has to find a way to stop the declines.
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Newspaper publisher Gannett Co Inc. (GCI.N: Quote, Profile, Research) will need to see advertising demand pick up for its fourth-quarter earnings to meet the consensus target of Wall Street