You can now read 10 articles a month for free. Read as much as you want anywhere and anytime for just 99¢.

Market Movers

Gannett’s quarterly profit slumps 40%

Gannett, known for USA Today and 81 other papers, will for $1.5 billion buy Belo Corp. to add 20 TV stations to the 23 it owns.

Associated Press/File 2010

Gannett, known for USA Today and 81 other papers, will for $1.5 billion buy Belo Corp. to add 20 TV stations to the 23 it owns.

Continue reading below

Gannett Co.’s quarterly profit fell sharply as ad revenue came in much lower than a year earlier, when the Olympics and the presidential campaign gave a lift. Net income was $79.7 million, 40 percent lower than in the same period in 2012. Total revenue fell 4.3 percent to $1.3 billion. One of the few growth areas was the digital division, which grew 5.2 percent to $191 million. Circulation revenue was flat. In addition to its USA Today site, the company has 120 websites tied to local newspapers and television stations.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week