Gannett Aided by Broadcast TV Ad Revenue
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Media company Gannett Co. Inc. GCI.N  on Wednesday said quarterly profit increased 6 percent, powered  by political advertising gains at its broadcast TV stations  that more than offset ad declines at its flagship USA Today  newspaper.
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Satellite broadcaster British Sky Broadcasting Group PLC reported strong growth in subscribers Friday and a jump in revenue that exceeded analysts' expectations, underpinning a 3 percent rise in quarterly net profit.
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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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The radio and billboard giant said net income increased to 65 cents a share, or $320.6 million, from 43 cents, or $211 million, in the year-earlier quarter.
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Satellite broadcaster British Sky Broadcasting Group PLC reported strong growth in subscribers and a jump in revenue Friday, underpinning a 3 percent rise in quarterly net profit.
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Gannett Co. Inc. , the largest U.S. newspaper publisher, said on Wednesday its quarterly revenue fell because of weaker advertising sales at its local papers, while profit rose with the sale of four papers.
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TV advertising is changing, and the networks had better keep up. Fortunately, they're trying to.
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NEW YORK - Gannett Co., the largest newspaper publisher in the country, reported an 11 percent increase in third-quarter earnings Tuesday on gains in advertising, particularly classified real estate and help-wanted ads.
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Media General Inc said on Monday it  may sell five television stations to reduce debt and bolster  its balance sheet as the publisher and broadcaster deals with  an advertising slump in its newspaper business.
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News Corp., the media company controlled by Rupert Murdoch, said fiscal first-quarter profit rose 27 percent, partly because advertising sales increased at its cable-television networks including Fox News Channel.
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The presidential election  is 14 months away and with as many as 17 candidates now  running, U.S. television and radio broadcasters are elated at  the prospect of billions more in advertising dollars.
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USA Today publisher Gannett Co. Inc.  said on Wednesday its quarterly revenue fell because of weaker  advertising sales at its local U.S. papers while profit rose  with the sale of some newspaper assets.
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Clear Channel Communications Inc., the largest US radio station chain, on Friday posted higher operating earnings and said a new strategy to trim advertising airtime showed early signs of success.
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By Eric Gwinn, Chicago Tribune  Feb. 6--This month, TV networks are pulling out all the stops to attract audiences. The larger the audiences, the more they can charge advertisers. So, it may be harder than usual to keep up with your favorite shows. Unless you go to the networks' Web sites.
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Newspaper publishers Tribune Co. and Gannett Co. have formed a joint venture to expand a national network of local entertainment Web sites, the companies said on Monday.
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Tribune Co.  reported a higher quarterly profit on Thursday because of one-time gains, while an extra week in the quarter boosted advertising revenue at the company's newspaper operations.
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Ad costs hit bottom line but subscriptions grow.