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Newspaper publishers report weak May ad sales

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Revenues at two newspaper publishers with ties to Iowa slipped in May as a result of weak advertising sales. Gannett Co. Inc., parent company of The Des Moines Register, reported that revenues slid 6 percent in May, while Davenport-based Lee Enterprises Inc.’s revenues at papers owned at least a year fell 1.7 percent, reported The Associated Press.

Gannett’s operating revenues for the month ended June 3 were $606.3 million, compared with $644.7 million in the prior-year period. Total ad revenues fell 6.8 percent, with classified ads slipping 8 percent and national ads falling 5.4 percent. Broadcasting revenues also decreased 8.9 percent as a result of fewer political ads.

Lee Enterprises’ total operating revenues, including acquisitions and sales, fell 2.2 percent to $93.9 million. Classified employment ad sales fell 12.4 percent, while automotive ad sales fell 10.5 percent and real estate ad sales dropped 9.9 percent. National ad sales declined 7.4 percent in May. Meanwhile, same-property online ad revenues jumped 60.2 percent.

Lee Enterprises announced today that because of weaker June revenues, it expects earnings for the three months ending June 30 to be below Wall Street’s expectations.