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Media

Gannett (GCI) Says USA Today Revenue May Drop 35%

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By Douglas A. McIntyre Updated Published
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The downturn in newspaper ad revenue has gone from awful to extraordinary. Gannett (GCI) told analysts that sales at its flagship USA Today paper could be down as much as 35%. That would certainly be an indication that the firm’s other dailies are doing poorly and that other newspaper chains including McClatchy (MNI) and Lee (LEE) are not out of the woods.

With its color pages, relatively short stories, and national distribution, USA Today is as much a magazine as a newspaper. Its demise is a signal that large publications such as BusinessWeek, Fortune, and Newsweek may be in more immediate trouble than they have said in public.

Last year, most newspapers suffered advertising revenue drops of about 20%. If the USA Today information is the sign of a broader trend, the drop may be accelerating. That means fewer large newspapers will make it to the end of the year.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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