GAN­NETT CUTS FULL-YEAR REV­ENUE FORE­CAST

USA TODAY US Edition - - MONEY -

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.

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