Gannett can’t wait for politics to heat up


Another multimedia company is suffering from the two-year political roller coaster on the television side, and is simply suffering, period, on the newspaper side. Gannett says for the month of May, pro forma operating revenues were down 6% overall, and that it would have been even worse had the company not been benefiting from favorable exchange rates of US dollars for British pounds. Television was said to be down 8.9% on a pro forma basis, thanks to the absence of political revenue, and Q2 is pacing lower than the same period in 2006 in the high-single digits.