Strong Auto and Political Ad Revenue Drives 24% Q3 Increase in TV Revenue at Gannett

Posted by Joe Zaller
Oct 15 2010

Gannett reported today that its television revenue for the third quarter increased by 24% to $179.6m, driven by a $16.3 million increase in election and issue related spending and a significant increase in core advertising across almost all categories, particularly auto. The company said that political ad spending totaled $36.3 million year-to-date and is in line with the presidential election year spending in 2008 and ahead of spending in the last non-presidential election year of 2006.

The company said that based on current trends, it expects the percentage increase in television advertising revenues to be in the mid to high twenties for the fourth quarter of 2010 compared to the fourth quarter of 2009, but cautioned that the pace of political spending in the fourth quarter may be volatile depending on state-by-state races.

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You can read the full Gannett Q3 earnings release here.

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