US Newspaper Giant Sees Q2 Profits Fall

14 July 2006

MACLEAN, VIRGINIA - America's largest newspaper publisher, the Gannett Company, has reported an 8.3% slide in second quarter profits versus the same period last year.

The company's net income was $310.5 million (€244.6m; £168.8m). Revenue rose 6.1% to $2.03 billion from $1.91bn.

Chairman/ceo Craig Dubow told analysts that Gannett's strength in its American community papers was offset by "continued soft ad demand" at its UK newspaper unit, Newsquest.