Revenue from broadcasting in Gannett’s first quarter just about doubled over the same period a year earlier, the company announced in an earnings report Wednesday. Gannett attributed the 99.5 percent rise in broadcast revenue to its acquisition of Belo, as well as Winter Olympics, political advertising and retransmission revenue.
On a pro-forma basis (making comparisons as if Gannett had acquired Belo’s stations at the beginning of last year), retransmission revenue was up 66 percent over the first quarter of 2013.
Revenue at Gannett’s publishing properties was down 3.3 percent overall for the quarter. Advertising revenue was down about 5 percent worldwide and about 6 percent in the U.S., and circulation revenue fell by 1.4 percent, which the company attributes in part to “lower circulation revenue at local domestic publishing operations.”