Adding two more TV stations offset an ad revenue decline at Gannett, but Q2 TV revenues were still down 0.4% to 205.4 million. On a same station basis, TV revenues were down 6.5%. Gannett CEO Craig Dubow noted in his conference call that online revenue growth has been strong across the company, up 33.5% in the quarter for websites associated with the TV group. He's also optimistic about the early start to the 2008 political campaign. As of now, though, TV pacings are down in the low single digits for Q3.
Newspaper ad revenues – and Gannett is the world's largest newspaper chain – were down 5.3% in Q2 to 1.28 billion. Local declined 4%, national 2.8% and classified 7.5%. At flagship USA Today, ad revenues were down 1%.
Gannett also reported its monthly statistics for June. TV revenues were down 5.8% to 61.4 million. Newspaper ad revenues declined 6.2% to 418.4 million.