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Gannett Indicator: Volume of Ads Placed Falls 21%

Monday, November 19, 2001

Press release from the issuing company

MCLEAN, Va.--Nov. 16, 2001--Gannett Co., Inc. reported today that total pro forma operating revenues declined 9 percent for the tenth period ended November 4, 2001 compared to the same period in 2000. Results for the period reflect a continued difficult and uncertain domestic advertising environment, further exacerbated by the tragic events of September 11. Pro forma newspaper advertising revenues fell 8 percent in the period on a pro forma ROP volume decrease of 4 percent and a 1 percent increase in preprint distribution. Pro forma classified revenues declined 12 percent in the October period on a 2 percent decrease in ad volume. Employment revenues fell 31 percent as economic conditions in the US declined further post September 11. The company's UK operations experienced positive but softer help wanted advertising growth in October. Classified real estate revenues advanced 5 percent and automotive increased 2 percent. Overall, the company's classified results for Newsquest continue to be significantly stronger than the domestic results. Pro forma local advertising revenues declined 1 percent on a 3 percent decrease in ad volume. Revenues from the company's small and medium-sized advertisers in its domestic newspapers significantly outpaced the revenue performance from its largest advertisers. However, department store advertising was much stronger in the tenth period. Pro forma national advertising revenues declined 17 percent on a 21 percent decline in ad volume. National volume at the company's local domestic newspapers fell 21 percent. At USA TODAY, advertising revenues declined 21 percent while paid pages declined 22 percent to 585 from 752. Travel advertising at USA TODAY continues to be hard hit in the aftermath of September 11. For the year-to-date, USA TODAY's paid pages numbered 4,554 compared to 5,771 last year, while ad revenues were 20 percent lower. Pro forma circulation revenues increased 2 percent in the period reflecting strong demand for in-depth news and information in these uncertain times. Pro forma television revenues declined 25 percent in the tenth period. Local revenues declined 14 percent, and national revenues fell 37 percent. Television revenue comparisons were especially difficult during the period with the absence of strong political advertising that benefited October 2000 results. For comparison purposes, television revenue rose 17 percent in the same period of 2000. In addition to the revenue and statistical summary, attached is a chart that shows the consolidated Gannett Online audience shares for October from Media Metrix and Nielsen/Net Ratings. In October, Gannett's domestic Web sites, according to Nielsen/NetRatings, had 10.9 million unique visitors reaching 9 percent of the Internet audience. Ad linage for Newsquest and Newscom is not included in the ad volume statistics. Circulation volume numbers for Newsquest's and Newscom's paid daily newspapers are included in the enclosed statistics, but volume from unpaid daily and non-daily publications is not included in the circulation volume statistics. Gannett Co., Inc. is an international news and information company that publishes 97 daily newspapers in the USA, including USA TODAY, the nation's largest-selling daily newspaper. The company also owns in excess of 300 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. In the United Kingdom, Gannett subsidiary Newsquest plc publishes nearly 300 titles, including 15 daily newspapers. Gannett also operates 22 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.




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