America’s number one newspaper publisher Gannett posted a rise in third-quarter profits after a strong climb in ad revenues at its television stations.
The media group’s net profits stood at $265.6 million, up from $227.1m in Q2 2001, as net operating revenues edged up 4.2% to $1.58 billion.
Gannett benefited from a 24% hike in TV revenues to $184m, a result of raised political advertising and increased budgets in several other sectors.
Ad revenues were also up at the newspaper division, rising 1.9% to $1.01bn. However, this masks a 7% drop in spend on flagship title USA Today, whose ad pages tumbled 15% from last year.
Data sourced from: Financial Times; additional content by WARC staff