July 22, 2013 / 12:50 PM / in 4 years

Declining newspaper ads keep total revenue at Gannett flat

July 22 (Reuters) - Gannett Co Inc reported higher broadcast and digital revenue on Monday, but it could not push total revenue higher because of declines in newspaper advertising.

The company said that total revenue was flat at $1.3 billion for the second quarter, compared with analysts’ expectations of about $1.33 billion, according to Thomson Reuters I/B/E/S.

The publisher of USA Today and operator of TV stations said that excluding special items, earnings per share were 58 cents, 2 cents higher than for the same quarter last year.

Gannett authorized a new share buyback program of $300 million, expected to be used over the next two years.

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