Gannett Co. Inc., owner of The Des Moines Register, reported today that total pro forma operating revenues for the four weeks ended March 2 declined 7.2 percent compared with the same period in 2007. Pro forma assumes all properties the company presently owns were owned in both periods.

Pro forma newspaper advertising revenues in the four-week period were down 8.3 percent compared with a year ago. Pro forma retail advertising revenues were 7.7 percent lower, as most major categories lagged last year’s results.

Pro forma classified revenues declined 13.6 percent. Real estate revenues were down 20.7 percent, employment revenues were 16.1 percent lower and automotive revenues declined 13.3 percent. U.S. Community Publishing pro forma classified revenues were 18 percent lowe, reflecting declines of 26.6 percent in real estate revenues, 23.3 percent in employment revenues and 10.9 percent in automotive revenues.

Meanwhile, the Associated Press reported today that Craig Dubow, chief executive, president and chairman of Gannett, received pay and compensation last year of $7.9 million, 36 percent higher than in 2006

Dubow’s pay increase came as Gannett stock, like that of other media companies, tumbled over the past year, the AP said. In the past 12 months, Gannett stock has lost roughly half its value, dropping from about $60 a year ago to $29.97 at the close of business Thursday.

In fact, the decreasing value of Gannett shares means that a large chunk of Dubow’s 2007 compensation is currently without value, the AP said.

A proxy statement filed to the Securities and Exchange Commission on Thursday shows that $3.35 million, of 43 percent, of Dubow’s 2007 compensation came in the form of stock options granted in February at a strike price of $61.26 per share. That means the stock options are effectively worthless until Gannett’s share price exceeds $61.26 a share.

The AP’s total pay calculations include executives’ salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year. The calculations don’t include changes in the present value of pension benefits, and they sometimes differ from the totals that companies list in the summary compensation table of proxy statements filed with the SEC.