Gannett reports higher 3Q earnings, revenue - 13 WTHR Indianapolis

Gannett reports higher 3Q earnings, revenue

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McLEAN, Va. -

It is the parent of The Indianapolis Star and 81 other newspapers, 23 TV stations. Gannett reports higher profit revenue in the latest quarter. It was helped by strong gains in political and Olympics-related advertising.

Gannett says it earned $133 million, or 56 cents a share in the July-September period, up 33 percent from $99.8 million, or 41 cents per share, a year earlier.

 The results were better than expected.

The company's newspaper publishing revenue dropped 3 percent. Gannett attributed the decline to "soft advertising demand" resulting from the slow economic recovery. The company, however, saw its first increase in newspaper circulation revenue since 2007, helped by digital subscription growth.

(Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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