Gannett earnings up 54 percent on strong broadcast, digital growth
Gannett Co. Inc., parent company of The Des Moines Register, reported today a 54 percent increase in adjusted fourth-quarter net income, buoyed by higher revenues and profits from its broadcasting and digital media units, its flagship paper USA Today reported. Revenue from the broadcasting segment, which owns or operates 46 TV stations, rose 117 percent to $495.3 million. In late 2013, Gannett bought former competitor Belo Corp. for $2.2 billion, nearly doubling the number of broadcast stations it owns or operates. Revenue for Gannett’s digital unit rose 77 percent to $345.4 million, including advertising sales at Cars.com and CareerBuilder.com. Gannett’s publishing segment, which operates 82 newspapers, reported a 6.2 percent decline in revenue to $885.5 million. In August 2014. Gannett announced that it would split the company later this year, with the print business retaining the corporate name and the broadcasting and digital segments grouped into a newly named entity.