Gannett first-quarter profit down 23%

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Gannett's publishing revenue (advertising and circulation) declined 6.2 percent while digital revenue rose 12 percent in the first quarter. Total revenue fell 3.7 percent to $1.25 billion, matching the average analysts’ estimate. || Read Gannett's release.

"Our publishing segment results for the quarter reflect the current state of the domestic economy with strength in the auto and employment sectors," CEO Craig Dubow said. Management vowed to continue its efforts to lower expenses to increase efficiencies, "particularly in the publishing segment," Dubow added. [TheStreet.com]

> Gannett Blog's Jim Hopkins live blogs the earnings call

  • Jim Romenesko

    From 1999 to 2011, Jim Romenesko maintained the Romenesko page for the Poynter Institute, a Florida-based non-profit school for journalists. Poynter hired him in August of 1999, after seeing his MediaGossip.com, a hobby site he started in May of 1999.

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