You will be redirected back to your article in seconds

Gannett net income drops 33%

Television revenues fell to $192 million

As the climate for newspapers remains rocky and lower political advertising hit the TV side, Gannett saw net income drop 33% last quarter to $117 million, the big publisher/broadcaster said Monday.

Lower political advertising will be a hallmark this earnings season as the last quarter of 2010 saw some hotly contested congressional races.

The McLean, Va., company, which owns 82 daily papers and 23 TV stations, also posted some one-time restructuring charges that hit profit.

Revenue dipped 5% last quarter to about $1.38 billion from $1.46 billion.

Television revenues fell to $192 million from $220 million on a net decrease of $48 million in political advertising. Excluding political, however, Gannett said TV revenue was up more than 11%, in part on strong auto advertising.

Retransmission revenues totaled $21 million, up 30%. Television station digital revenues rose 19%.

Publishing led by flagship USA Today saw revenue fall 5% to $1 billion as advertising revenue dipped to $671 million from $722 million.

At USA Today, increases in several categories including telecommunications, credit cards and automotive were offset by declines in the travel, entertainment and technology categories.

Digital revenue in publishing rose 7% on cross-platform sales efforts and a partnership with Yahoo.

Gannett noted that year-over-year comparisons U.S. operations in the fourth quarter for were better relative to the third quarter comps, with improvements in all major categories.

The company generated net cash flow of $775 million in 2011.

“Gannett’s strong balance sheet and cash generation give us the flexibility to execute our growth strategy and successfully compete in the digital era while paying down debt and returning capital to shareholders,” CEO Gracia Martore said.

More TV

  • FICG Names Estrella Araiza As New

    Estrella Araiza To Head Up Guadalajara Intl Film Festival

    The Guadalajara Intl. Film Festival (FICG) has announced that Estrella Araiza, until now the festival’s head of industry and markets and director of the Guadalajara IntL. Film Festival in Los Angeles, has been promoted to the position of general director of the prominent Mexican festival. She replaces Ivan Trujillo, appointed director of TV UNAM. Araiza [...]

  • AGS2 Key Art, Image IDs: AGS2_081218_2727,

    Starz Releases 'American Gods' Season 2 Trailer (Watch)

    Starz has released a second season trailer for “American Gods,” which returns to the cabler Mar. 10, depicting the brewing war between Gods old and new in the series based on Neil Gaiman’s novel of the same name. “When people first came to America they brought us with them,” the trailer begins, flashing images of [...]

  • R. Kelly

    R. Kelly Accusers Detail Abuse, Reveal Evidence on 'Dateline'

    The continuing controversy surrounding R. Kelly, including allegations of sexual abuse by a number of women over three decades, was the focus of Friday’s episode of “Dateline.” Speaking to accusers Sparkle, Jerhonda Pace and parents Tim and Jonjelyn Savage, among others, NBC’s Andrea Canning heard more harrowing tales of abduction and sexual misconduct on the part [...]

  • Kenan Thompson

    NBC Orders Comedy Pilots 'Saving Kenan' and 'Like Magic'

    NBC has ordered comedies “Saving Kenan” and “Like Magic” to pilot. “Saving Kenan” is a single-camera comedy starring “Saturday Night Live” veteran Kenan Thompson as a “newly widowed dad determined to be everything for his kids while begrudgingly letting his persistent father-in-law become more involved in their lives.” Jackie Clarke will serve as writer and [...]

  • The First -- "The Choice" -

    'The First' Canceled at Hulu After One Season

    Hulu has grounded the space exploration drama “The First” after one season, Variety has confirmed. The series hailed from Beau Willimon and starred Sean Penn and Natascha McElhone in Penn’s first regular television role. “The First” was set in the near future and followed the first human mission to Mars. Hulu gave the show a straight-to-series order in [...]

  • Nicole Maines Supergirl Trans Hollywood Portrait

    TV Roundup: 'Supergirl' Drops First Look at Nicole Maines as TV's First Trans Superhero

    In today’s TV News Roundup, The CW releases a first look at Nicole Maines on “Supergirl” and Variety unveils an exclusive look at Gabriel Iglesias’ new comedy special.  FIRST LOOKS truTV has released the first trailer for season 2 of Emmy-nominated series “At Home with Amy Sedaris.” The variety sketch comedy returns Tuesday, Feb. 19 at [...]

More From Our Brands

Access exclusive content