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gannett 3Q08transcript
Gannett held their third quarter 2008 earnings conference call to discuss financial results. Revenues were impacted by a steep decline in advertising demand, especially in real estate, retail, and employment, due to the weak economy and housing downturn. Publishing revenues fell 17.6% due to declines across all categories. Broadcasting provided a bright spot with revenue increases from the Olympics and political advertising. Gannett's digital strategy focuses on growing properties like CareerBuilder and ShopLocal, and developing niche websites. While the economy poses challenges, management is confident core revenues will rebound and digital growth will continue when economic conditions improve.
