April was a downer for Gannett Company. Newspaper ad revenues declined 3.1% 467.1 million and circulation was down 0.8% to 118.5 million. The month wasn't any better for the television group. Pro forma broadcast revenues, including the Captivate in-elevator video service, were down 5.1% to 77.6 million.
For the TV stations alone, revenues were also down 5.1%, with local off 4.7% and national down 9.1%. The company said about half of the decline was due to the absence of political advertising.
"Based on results to date and current pacings, television revenues for the second quarter of 2007 would lag last year's second quarter in the high single digits," Gannett said.