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Gannett Reports 11% Revenue Increase, Predicts Robust Future with Olympics and Politics

Gannett Co., which owns 23 stations across the country, today announced its financial results for the second quarter, reporting an 11.2% increase in television revenue for the period.

Gannett’s TV stations brought in $197.7 million during the second quarter, compared to $177.7 million for the same period last year.

The increase was sparked by climbing retrans and digital revenues.  Retrans revenue totaled $22.7 million, up 17.1% from the second quarter last year, and digital revenue increased 11.5%.

“Based on current trends, we expect the percentage increase in television advertising revenues to be in the low-thirties for the third quarter of 2012 compared to the same quarter last year, benefiting from the Summer Olympic Games and political advertising,” the company said in a statement.

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