Gannett sees profits and circulation increase in 4Q
Posted by Leah McBride Mensching on February 2, 2010 at 4:22 PM
In a time where newspapers seem to be losing more and more revenue, figures from Gannett Co. Inc.'s fourth quarter, released today, showed potential positive results for the months ahead.
According to The Wall Street Journal, Gannett swung to a profit in the fourth quarter following US$5.6 billion in prior-year write-downs. Lower declines in advertising sales combined with much lower expenses helped the newspaper publisher show improvement. Lower expenses seem to stem from Gannett's aggressive job cuts. In the summer of 2009, Gannett slashed over 1,000 jobs, adding to the 4,600 jobs cut in 2008. USA Today's newsroom was reduced by about 20% in only two years. Last December, Gannett executives remained pessimistic about the state of the company, citing a drop in travel and a decrease in circulation as the two biggest problems.
For more on this story, visit our sister publication, editorsweblog.org.
According to The Wall Street Journal, Gannett swung to a profit in the fourth quarter following US$5.6 billion in prior-year write-downs. Lower declines in advertising sales combined with much lower expenses helped the newspaper publisher show improvement. Lower expenses seem to stem from Gannett's aggressive job cuts. In the summer of 2009, Gannett slashed over 1,000 jobs, adding to the 4,600 jobs cut in 2008. USA Today's newsroom was reduced by about 20% in only two years. Last December, Gannett executives remained pessimistic about the state of the company, citing a drop in travel and a decrease in circulation as the two biggest problems.
For more on this story, visit our sister publication, editorsweblog.org.
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