Ads leap 11% at Gannett as NYT redesigns for growth

NEW YORK – Despite taking a hit from Florida's hurricanes, USA Today publisher Gannett saw ad sales rise an an impressive 11%, outstripping rivals as The New York Times Company, which saw ad revenues up 3.7%, said it was to redesign sections of its paper to spur growth.

The publisher of the New York Times and the Boston Globe said ad revenues had increased 3.7% in the third quarter, roughly mirroring growth in the second quarter.

Net profit totalled $48.3m in the third quarter this year, down from $50.1m for the same period last year.

Janet Robinson, executive vice-president and chief operating officer of The New York Times Company, said it was redesigning key editorial sections and improving content at the NYT as well as growing the International Herald Tribune and NYTimes.com, in order to spur greater revenue gains.

Meanwhile Gannett Co, publisher of USA Today and owner of several TV stations, saw an 11% increase in quarterly ad sales.

The company posted stronger ad sales than many of its rivals, said to be helped by its focus on mid-size and small markets that have fared better during an uneven ad recovery.

The company was hit by hurricanes in Florida, where it operates the Pensacola News Journal and several TV stations.

Edward Atornio, an analyst at Fulcrum Global Partners, said: "Gannett just knocked the cover off the ball in terms of top-line growth, but the hurricanes did clip them a little bit."

The company owns around 100 daily newspapers, 21 TV stations and British newspaper unit Newsquest. It said that third-quarter profit climbed to $310.2m from $279m from the year before. Revenue was up more than 11% to $1.81bn from $1.03bn.

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