Strong ad gains boost Gannett Co. quarter, half

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Strong demand for national and classified newspaper advertising was cited by Gannett Co., Arlington, Va., the nation's No. 1 newspaper publisher, as it reported income from continuing operations climbed 13% in the second quarter to $234.8 million on revenue of $1.49 billion, up 16%. At USA Today, Gannett said, second-quarter ad pages were up 11% to 1,833 while advertising revenue climbed 12%. For the first six months of 2000, it said, USA Today ad revenue was up 18%, with ad pages up 14% to 3,517. Gannett's second-quarter financial results did not break out June performance at USA Today, but the company earlier this month disclosed June ad pages were down 10% from the year-ago period. Gannett also said its Internet activities generated $28 million in revenue in the first half of this year. Results for the second quarter include operations of U.K.-based Newsquest, acquired in July 1999, and News & Media, acquired in June.

Copyright July 2000, Crain Communications Inc.

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