Regional Press

 

Newsquest's ad revenue falls 28.7%

 

LONDON - Newsquest's ad revenues were down 28.7% year on year in Q3.

Newsquest's ad revenue falls 28.7%

However, this was an improvement on Q2, according to Newsquest parent company Gannett's financial results, released today (19 October).

Gannett revealed that Newsquest's national ad revenue was down 10.4% year on year, while retail ads fell 19% and classified declined 34.7%.

Gannet said classified comparisons in the third quarter were the best so far this year and comparisons at Newsquest were approximately 10 percentage points better than in the second quarter.

Car ad revenue was down 37.4% year on year in the third quarter, employment was down 48.8% and property was down 30.6%.

Craig Dubow, Gannett chairman, president and chief executive, said although recessions in the US and UK continued to "temper ad demand and revenue growth during the quarter, we are encouraged by the revenue trends".

Newsquest operates 300 newspaper titles in the UK, including The Argus in Brighton, The Herald in Scotland and the Telegraph & Argus in Bradford.

In January, Gannett said it was taking a $5.2bn hit as it looked to write down the value of its assets, including its UK operation.

 

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