But factoring out the lower political revenue, that changes to a 4.7% gain, driven by improving auto advertising. Retrans revenue was up 26.7% and online grew 27.5%.
QUARTERLY REPORT
Gannett 3Q TV Revenue Down 6.1%
Gannett Co. today reported third quarter 2011 financial results that included television revenues of $168.8 million, $10.8 million lower compared to $179.6 million last year, despite a net decrease of $18.4 million in political spending.
Total adjusted television revenues, defined to exclude the incremental impact of the cyclical ad demand related to political spending, were 4.7% higher. The increase was due, in part, to strengthening demand for auto advertising in September, Gannett said.
Retransmission revenues increased 26.7% in the quarter and totaled $20 million.
Online revenues at its television stations were up 27.5%.
The company said that based on current trends and comparing against the substantial level of political advertising which totaled $52.4 million in last year’s fourth quarter, it expects the percentage decline in total television revenues for the fourth quarter of 2011 to be in the low teens compared to the fourth quarter of 2010. Excluding the incremental impact of political spending, total television revenues are expected to increase in the very high single digits in the fourth quarter this year compared to the fourth quarter last year.
You can read the company’s report here.
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