Gannett Broadcasting Flat for Q4, Total Year
By Broadcasting & Cable Staff -- Broadcasting & Cable, 2/2/2009 2:00:00 AM
Gannett Broadcasting operating income for the fourth quarter was $92.1 million, up. 0.3%. Broadcast revenues were $212.8 million, about even with the $212 million the company booked in the fourth quarter of 2007. Political advertising was $58.1 million, which offset weakness in automotive and retail advertising. The company said last week it believes its television revenues will be down “in the mid-teens” for the first quarter of 2009 compared to a year ago.
For the entire year, Gannett reported broadcasting revenues of $772.5 million, down 2.1%. Its broadcast operating income was $313.1 million, down 0.6%.—Michael Malone
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