Gannett ad revenue down 8% in second quarter

Gannett’s second-quarter revenue dropped 2.1% — in line with analysts’ estimates — while advertising revenue fell 8%. Ad sales were down 11.6 percent in April versus a year ago; 1.2 percent in May, and 8.8 percent in June. Gannett Blog points out national advertising, which is mostly from USA Today, plummeted 17%. At last check, Gannett shares were down.
* Gannett beats on profit, but ad sales still weak (Reuters)
* Read Gannett’s press release on the earnings report (Gannett)