Gannett Cash Flow Slips

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Gannett Co. Inc. reported a 19% drop in TV operating cash flow to $104 million for the fourth quarter, with a 14% drop in revenue to almost $197 million. The company cited a lack of political advertising dollars compared to 2002 as the main reason for the decline.

For the full year, TV operating cash flow was down 10% to $356 million with a 7% drop in revenue to $720 million.