Gannett 4Q TV Revenue Climbs 26%

Gannett Co. reported today that its television revenue in the fourth quarter of 2010 increased 26.1% compared to the fourth quarter of 2009.

Television revenues were $220.2 million compared to $174.5 million, reflecting significantly higher political spending which totaled $52.4 million and growth in core advertising. Advertising revenues, excluding political, were up 1.2% reflecting solid core advertising demand tempered by the displacement effect of substantial political ad demand, the company said.

Retransmission revenues were up 15.9% and totaled $16.4 million in the fourth quarter and $63.3. Gannett said: “Television faces several revenue headwinds in the first quarter of 2011 including the absence of $18.6 million in Olympic spending that benefitted our NBC affiliated stations in the first quarter of 2010 as well as $3.3 million in politically related advertising and $2.2 million in ad demand related to the Super Bowl. Despite these headwinds, and based on current trends, we expect the percentage increase in total television revenues to be in the very low single digits for the first quarter of 2011 compared to the first quarter of 2010.

“We are pleased with the positive results we delivered this year,” said Craig Dubow, chairman-CEO. “Broadcasting had an outstanding year in terms of ratings, revenue and profitability. Operating income in broadcasting in 2010 grew over 50% and significantly exceeded 2008 results, which was a Presidential election year.”

Read the company’s report here.