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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Newsquest hardly gets a mention in Gannett's third quarter report

Newsquest, the publisher of 185 newspapers across Britain, gets very little mention in the latest earnings report by its US owner, Gannett.

Similarly, its American newspapers don't figure too highly in its third quarter report either. It's all about TV now.

The company enjoyed a further surge in broadcast revenue, which more than compensated for the continuing drop in newsprint advertising and enabled Gannett to post a healthy increase in profits.

Revenue rose 15% in the third quarter to $1.44bn (£895m), up from $1.25bn (£777m) a year ago. Its broadcasting operations more than doubled their earnings due in large part to the acquisition of Belo Corp earlier this year.

So what does it say about Newsquest, UK publisher of 17 dailies and 168 weeklies with a weekly circulation of 5.4m plus almost 1m daily unique browsers for its websites?

The report tells us that Newsquest enjoyed "substantially higher employment advertising" (up by 9.3% year on year). But property and motors were down, so the total classified take was down by 2.3%.

One bright spot was the company's digital revenues, which rose by 20.4%. The report describes Newsquest as "an internet leader in the UK" with its websites attracting 136.9m monthly page impressions from 22.2m unique users in September.

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