GANNETT CUTS FULL-YEAR REVENUE FORECAST
Gannett, which owns USA TODAY and
109 local media properties, said Thursday that slowing digital revenue growth – and continued declines in print advertising and circulation – led it to lower its full-year forecast. Digital advertising and marketing revenue increased 7.7 percent in the third quarter to $199.4 million. But print advertising and circulation revenue fell, resulting in a decline in total publishing revenue to $616.4 million, from
$660.3 million the prior year. Gannett cut its full-year revenue forecast to a range of $2.9 billion to $2.94 billion, instead of $2.95 billion to $3 billion.