Gannett TV Revs Down 20% - Broadcasting & Cable

Gannett TV Revs Down 20%

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Gannett's third-quarter TV revenues were down by 20% from the same period last year.

The company, which owns 21 TV stations covering 17.9% of the U.S., attributed the big drop in part to the absence of Summer Olympics and political ad revenue.

It is predicting fourth-quarter TV revenues to be down by 10%-15% due to the absence of about $50 million in political ad dollars that came in during fourth quarter 2004.

For September, TV revs were down 9.8%.

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