TV outlook worsens for Gannett


A month ago Gannett said its TV pacings pointed to Q4 being down in the high teens, but now the company has expanded that to a decline “in the very high teens to the very low twenties.” November TV revenues were down 20.4% against last year’s politically-inflated tally.

Pro forma broadcast revenues for November, including the Captivate elevator video service, were off 19.2% to 70 million bucks. Television alone was off 20.2%, as noted, with local off 11.2% and national down 36.8%. Excluding political, though, Gannett said TV time sales were up 6.4%. Also, online TV revenues shot up 16.2%.
Gannett noted that its broadcast division is working against tough comps, with 58 million in political advertising recorded in Q4 of 2006.

Newspaper ad revenues, meanwhile, were down 3.9% in November to 420.4 million. Local was up 1.6%, with national down 3.5% and classified off 11.2%.