Gannett's First-Quarter Online Newspaper Revenue Down 20%
16 Aprile 2009 - 5:48PM
Dow Jones News
Gracia Martore, chief financial officer with Gannett Co. (GCI),
said Thursday that the publishing company's U.S. newspapers,
excluding USA Today, posted a 20% decline in online revenue in the
first quarter.
On a conference call with analysts following Gannett's
first-quarter earnings release, Martore said the division posted an
increase in online revenue at a percentage rate in the low single
digits excluding declines in online employment classified
advertising.
Newspaper publishers have touted their online ad businesses as a
growth engine that can offset the industry's print declines over
time, but that growth has largely disappeared amid the global
economic crisis.
-By Nat Worden, Dow Jones Newswires; 201-938-5216;
nat.worden@dowjones.com