Gannett, the company that owns USA Today, The Courier-Journal and 83 other American newspapers, as well as over 900 publications and 23 TV stations, continues to lose money like it’s as cool as advertorial replacing reporting.
Operating revenue for March dropped 10.3 percent, while total revenue for the company was down by about $66 million.
A major reason is ad sales, of course: Gannett lost 18 percent in classified revenue and nearly 13 percent in overall publishing ad revenue. Broadcasting revenue dropped by 8 percent. Overall, operating revenue in its newspaper division dropped 8.4 percent in the first quarter.
Meanwhile, Gannett continues its intense seduction of the Web, as papers like The C-J implement new cookie-cutter site templates that are as ugly and user-unfriendly as LEO’s website, and apparently just as difficult to sell.