Ad Drought Hits America's Largest Newspaper Group

20 July 2007

MACLEAN, Virginia: The Gannett Company, America's largest newspaper group, felt the sere wind of drought in its advertising department during the second quarter.

But results were shored-up by the sale of several newspapers during the period, resulting in an 18% increase in bottom-line earnings to $365.7 million (€264.85m; £178.09m).

Nonetheless, the downward trend in ad revenue continues, especially in the real estate sector.

Gannett also owns Newsquest, Britain's second-largest newspaper publisher.

Data sourced from Wall Street Journal Online. additional content by WARC staff