Gannett blames profits fall on Britain's Newsquest

Gannett, the giant US media conglomerate, has blamed its 8.3% decline in second-quarter earnings partially on its British operation, Newsquest. The company's chairman and chief executive, Craig Dubow, told analysts yesterday that Gannett's strength in its American community papers was offset by "continued soft ad demand" at Newsquest, Britain's third-largest regional newspaper chain with 216 titles. Gannett, which publishes 90 daily papers in the US, including USA Today, earned $310.5m (£169m) in the 13 weeks up to June 25, down from $338.6m (£184m) in the comparable period a year ago. (Via biz.yahoo.com)