Gannett Co. (GCI) Reports Period Five Operating Revenues

Gannett Co., Inc. (NYSE: GCI) reported that total pro forma operating revenues for the fifth period ended June 3, 2007 declined 6.0% compared with the same period in 2006. For comparison purposes, the strengthening exchange rate of the British pound also affected results for the company's UK operations. If the exchange rate had remained constant year-over-year, total pro forma operating revenues would have been 7.0% lower.

Pro forma newspaper advertising revenues in May were down 6.8% compared with May 2006. Pro forma assumes all properties presently owned were owned in both periods. If the exchange rate had remained constant year-over-year, total pro forma newspaper advertising would have been 8.0% lower. Pro forma classified revenues declined 8.0% in the fifth period.

Pro forma local advertising revenues were 6.3% lower in the fifth period. In the U.S., across all products, all major categories excluding telecommunications lagged last year. Pro forma national advertising revenues for the fifth period were down 5.4%. At USA TODAY, advertising revenues declined 7.8% on paid ad pages of 324 versus 379 last year.

Television revenues were down 9.5% in the period reflecting declines of 9.0% in local revenues and 14.7% in national revenues.

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