Print gloom as Gannett profits fall by 12%

The bleak outlook for the US newspaper industry continues with the country's biggest publisher, Gannett, posting a 12% drop in third-quarter profit. It went down to $261.4m (£140.7m) from $297m (£160m) a year earlier. Gannett publishes USA Today and 89 local US daily newspapers, almost 1,000 non-daily publications across America and owns Newsquest, Britain's second-largest regional chain, plus 23 American TV stations. Analysts regard it as a harbinger of the publishing sector's health, which doesn't bode well for the coming sets of results from other US newspaper companies. (Via USA Today)