Reply #15: Gannett: TV ad revenue softer than expected in Dec. [View All]

[UpInArms]

http://www.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38525.4138761806-837110452&siteID=mktw&scid=0&doctype=806&property=symb&value=&categories=&

NEW YORK (MarketWatch) -- Broadcast revenue growth at Gannett Co., Inc. (GCI) this year has been softer than the media group projected in December, Gracia Martore, chief financial officer, said at the NAA Mid-Year Media Review conference. Craig Dubow, CEO of Gannett Broadcasting, highlighted auto and retail advertising spending as challenging - the top two categories for the division. The two categories have seen "a slight uptick in the past two weeks" but are expected to remain at a "negative pace" against the same quarter a year ago, he said. He made clear that the recent consolidations among a couple of leading U.S. retailers have created an unknown at this point for the group in back-to-school spending.

When there is only one store left there will be no need for advertising. :eyes: