Revenue: $6.34 billionProfit:$831 million Like its newspaper rival Tribune Co., Arlington, Va.-based Gannett is finally starting to see a flicker of light at the end of the tunnel after riding out a nasty advertising downturn for more than a year. The publishing giant had some good news for Wall Street in July, when it announced that second-quarter profits jumped by 5% to more than $300 million, coming in at the upper end of media analysts’ forecasts. Among the strong suits for Gannett and its peers in the quarter were ads for auto and retail — two sectors that had been seen as somewhat shaky. Gannett is the largest newspaper publisher in the U.S., boasting a stable of 95 daily papers and more than 300 nondailies. Its flagship is USA Today, with 2.2 million readers. Gannett also controls 22 television stations, giving it a window into 17% of American homes, and the U.K. publisher Newsquest, which publishes roughly 300 titles, including 15 dailies.
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