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Gannett 1Q profit tumbles as ad declines deepen

NEW YORK – Gannett Co. is reporting lower first-quarter earnings and a deepening slump in advertising revenue.

Gannett, the largest U.S. newspaper publisher and the owner of the Tucson Citizen, said Thursday it earned $77.4 million, or 34 cents per share. That was down 60 percent from the same quarter in 2008, when it earned $191.8 million, or 84 cents per share.

Excluding one-time gains and losses, earnings came to 25 cents per share. Analysts had expected 24 cents, according to Thomson Reuters.

Revenue fell to $1.4 billion from $1.7 billion, roughly in line with Wall Street forecasts.

Ad sales in the company’s publishing unit, which includes newspapers, fell 34 percent.

Citizen Online Archive, 2006-2009

This archive contains all the stories that appeared on the Tucson Citizen's website from mid-2006 to June 1, 2009.

In 2010, a power surge fried a server that contained all of videos linked to dozens of stories in this archive. Also, a server that contained all of the databases for dozens of stories was accidentally erased, so all of those links are broken as well. However, all of the text and photos that accompanied some stories have been preserved.

For all of the stories that were archived by the Tucson Citizen newspaper's library in a digital archive between 1993 and 2009, go to Morgue Part 2

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