May 7, 2019

Gannetts first quarter results, announced May 1, did not do much to quell concerns that the company can successfully fight off a takeover attempt by MNG Enterprises. Operating revenue for the quarter was $663.4 million, an 8.2% decrease compared to operating revenue of $723.0 million in the first quarter of 2018. The biggest decline was in advertising and marketing services revenue which totaled $365.2 million, compared to $410.3 million for the same period last year. Circulation revenue was $252.7 million, compared to $266.6 million, and other revenue was $45.4 million, compared to $46.1 million in the first quarter of 2018.