Roy Greenslade 

Gannett’s profits increase 84% as Newsquest’s circulation revenue rises

Newspapers are for sale, says chief executive
  
  


Gannett, the parent of Newsquest, saw its second-quarter profits rise 84% alongside a 12% increase in revenue compared to the same period last year.

The figures were boosted by a massive increase in revenue from its broadcasting division due to its acquisition of Belo's TV stations, reports USA Today.

By contrast, newspaper publishing revenue fell 4.1% on an almost 6% decline in advertising revenue and a 0.6% slip in circulation revenue.

Gannett's chief executive Gracia Martore said the company's strong performance reflected "the outstanding progress we've made in our strategic transformation, positioning Gannett to compete effectively in today's multi-media landscape."

An analyst asked: "Are newspapers for sale?" Martore replied: "Yes, there are newspapers for sale... We are open to any opportunities that will create additional strong shareholder value."

According to the Gannett press release, advertising revenue at Newsquest - which publishes more than 200 papers and magazines across Britain - was "virtually flat."

But circulation revenue increased, an unsurprising outcome of cover price rises at most of Newsquest's daily and weekly titles. Digital revenues were 24.6% higher.

The press release describes Newsquest as "an internet leader in the UK", claiming that its network of websites attracted 119.8m monthly page impressions from some 17.8m unique users in June this year.

Sources: Wall Street Journal/USA Today/Reuters via Yahoo/Gannett press release

 

Leave a Comment

Required fields are marked *

*

*