05-20-2008 Gannett April operating revenue falls 7.7 percent, on decline across all categories
MCLEAN, Va.--Gannett Co., the nation's largest newspaper publisher, said Monday its operating revenue fell 7.7 percent in April. Total revenue for the period ending May 4 fell to $639.6 million from $693.3 million in the comparable period a year ago. Publishing advertising revenue fell 10.4 percent to $410.9 million, hurt by the shift of Easter into March this year. Retail advertising revenue fell 6.1 percent to $189.5 million, hurt by fewer furniture, entertainment and telecommunications ads. Classified revenue fell 15.8 percent to $155.5 million, due to weak real estate and automotive revenue. Broadcasting revenue fell 4.3 percent to $74.2 million. Year to date, operating revenue is down 8.2 percent to $2.32 billion, as total newspaper advertising fell 10.3 percent to $1.51 billion. Gannett publishes 85 daily newspapers, including USA Today, and owns almost 900 other publications. The company also runs 23 television stations. Shares rose 5 cents to close at $29.80.
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