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Gannett reports reduced revenue

Published on .

McLean, Va.—Gannett Co., publisher of USA Today, reported Friday that its operating revenue totaled $1.64 billion in the third quarter, compared with $1.80 billion in the year-earlier period. The company attributed the decline to softness in the ad market.

Gannett said its publishing segment operating revenue was $1.36 billion, a 14.4% decline from the third quarter of 2007. Advertising revenue totaled $977.1 million, down from $1.19 billion.

At USA Today, advertising revenue declined 7.1% from last year’s third quarter. Paid advertising pages totaled 713, compared with 803 in the year-earlier period.

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