Gannett Profits Surge on Ad Revenue Rise

10 February 2003

Rising ad sales have helped American media group Gannett – owner of the nation’s number one newspaper USA Today – boost profits by 40%.

Net earnings jumped to $347 million (€321m; £213m) in the fourth quarter, up from $248.4m the year before, on a 7% rise in revenue to $1.73 billion.

Gannett reported increased sales of local classified and national display ads, with a 2% rise in advertising revenue at USA Today – the first time the paper has seen a year-on-year increase since Q4 2000.

In addition, the group’s 22 television stations posted a 27% surge in revenues to $228.8m, boosted by raised political adspend.

Data sourced from: New York Times; additional content by WARC staff