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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Gannett profits dive by 36%

Gannett, America's largest newspaper publisher, has reported a 36% decline in second-quarter earnings. Its $233m (£116m) profit compared with one of $366m (£182m) a year earlier. The vast majority of lost revenue in the quarter stemmed from an overall 14% decline in advertising revenue. Major losses occurred in its British division, Newsquest, which saw classified advertising in its 210 regional and local titles collapse by 19.3% in June. (Sources: NY Times/AP)

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