Media Companies: Gannett Co. said second-quarter profit...
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From Times Staff and Wire Reports
Media Companies: Gannett Co. said second-quarter profit totaled $105.3 million, down 6% from the same period a year ago. Sales were down 1% to $893.8 million. It was the first quarterly drop in net income since the Arlington, Va.-based firm went public 22 years ago. New York Times Co. also reported reduced second-quarter profit at $26.8 million, down 32%. Revenue rose 2% to $468.9 million. Both companies cited weak advertising revenue for the decline in profit.
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