Publishing drags Gannett down


Multimedia companies posting July results have all pretty much had the same story to tell. It was a bad month, but on moderately so on the broadcast side, with the heavy bloodletting coming on the publishing side – and Gannett was no exception. July 2008 was -12.3% behind the same month last year, with a -16.7% drop at it newspapers advertising somewhat mitigated by a mere -5.5% backslide at its 23 television stations. Gannett said political revenue is up, but not enough to counter the effects of weak local and national sales.