(Adds detail on publishing and broadcasting segments)
July 22 Newspaper and broadcast company Gannett
Co reported higher revenue and earnings on Tuesday,
benefiting from its acquisition of Belo's TV stations.
The company said total second-quarter revenue increased 12.1
percent to $1.46 billion from a year earlier. Analysts on
average were expecting $1.48 billion, according to Thomson
Earnings excluding special items, such as employee
severance, rose 14.4 percent to $154.6 million, or 67 cents per
Gannett, which is the largest newspaper chain in the United
States and publishes USA Today, has been snapping up broadcast
TV stations to bolster its portfolio against declining
advertising revenue and readership at its newspapers.
Broadcasting revenue, which accounts for more than a quarter
of Gannett's total, rose 13.4 percent to $398.3 million.
Publishing revenue fell 4.1 percent to $867.4 million on an
almost 6 percent decline in advertising revenue and 0.6 percent
slip in circulation revenue to $530.2 million and $277.9
(Reporting by Jennifer Saba in New York; Editing by Lisa Von
Ahn and W Simon)