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MCLEAN, Va. (AFX) - Top U.S. newspaper publisher Gannett Co. said Friday its November pro forma operating revenue rose 3.5 percent, bolstered by a sharp rise in advertising at its flagship USA Today daily.
Total revenue in the four weeks ended Nov. 26 climbed to $675.8 million from $652.9 million last year. More than 1 percentage point of the gain came from the British pound's sharp rise against the dollar.
Advertising revenue rose 1.6 percent to $445.8 million, driven by a 12.9 percent gain in national ad revenue to $79.6 million. USA Today registered a 20 percent gain as paid ad pages increased 13.6 percent to 392. Demand from sellers in the entertainment, technology, retail, travel and pharmaceutical sectors accounted for the increase.
Health and office supplies ads helped drive local ad revenue up 1.2 percent to $206.4 million.
Revenue from classified ads, which have been increasingly shifting to the Internet, fell 2.8 percent to $159.8 million. Help wanted and automotive ads led the decline.
Ad volume declined in each of the three categories and was down 2.3 percent overall.
Net paid circulation continued to decline, with daily papers posting a 1.5 percent drop and Sunday papers falling 2.4 percent.
At Gannett's broadcasting properties, which include 23 television stations, the November general elections helped push revenue up 20 percent.
Gannett shares rose 24 cents to $59.88 in recent trading on the New York Stock Exchange. Copyright 2006 Associated Press. All rights reserved. This material may not be
Copyright 2006 AFX News Limited. All Rights Reserved.
