For Immediate Release

Chicago, IL – October 23, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: The New York Times Company (NYT), Washington Post Company (WPO), Journal Communications (JRN), Gannett Co. (GCI) and McClatchy Company (MNI).

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Here are highlights from Thursday’s AnalystBlog:

NY Times Beats Zacks Consensus

Amid the secular and cyclical slowdown in print advertising The New York Times Company (NYT) recently reported third-quarter 2009 results that topped the Zacks Consensus Estimate.

The New York Times quarterly earnings of 16 cents a share surpassed the

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Amid the secular and cyclical slowdown in print advertising The New York Times Company (NYT) recently reported third-quarter 2009 results that topped the Zacks Consensus Estimate. The New York Times quarterly earnings of 16 cents a share surpassed the Zacks Consensus Estimate of 2 cents, and the prior-year quarter earnings of 5 cents. The better-than-expected results came on the heels of significant cost-cutting measures and newspaper price increase. On a reported basis, including one-time items, the company reported a loss of 25 cents a share, a substantial improvement from the loss of 74 cents delivered in the year-ago quarter. Management now expects to save $475 million in operating costs in 2009 up from $450 million previously anticipated. Operating costs fell 21.6% to $490 million, whereas operating profit surged 30.2% to $80.6 million. Total revenue dipped 16.9% to $570.6 million, primarily due to lower print ...

For Immediate Release

Chicago, IL – October 20, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Gannett Co. Inc. (GCI), Washington Post Company (WPO), Journal Communications (JRN), McClatchy Company (MNI) and The New York Times Company (NYT).

Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday’s AnalystBlog:

Gannett Beats Zacks Consensus

Gannett Co. Inc. (GCI), the largest newspaper publisher in the U.S., recently reported third-quarter 2009 results. Despite a faltering economy and decline in print advertising revenue, the company’s earnings topped expectations, buoyed by effective cost-cutting measures, lower newsprint expense,

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Gannett Co. Inc. (GCI), the largest newspaper publisher in the U.S., recently reported third-quarter 2009 results. Despite a faltering economy and decline in print advertising revenue, the company’s earnings topped expectations, buoyed by effective cost-cutting measures, lower newsprint expense, reduction in headcount and pay cuts. Operating expenses dropped 14.4% to $1,179.6 million. Gannett’s quarterly earnings of 44 cents a share surpassed the Zacks Consensus Estimate of 38 cents as well as the company’s expected guidance range of 39 cents to 42 cents a share. However, earnings fell 42.1% year-on-year from 76 cents reported in the prior-year quarter due to an 18.4% decline registered in the total revenue of $1,336.6 million. On a reported basis, including one-time items, earnings came in at 31 cents a share, down 55.1% from 69 cents posted in the year-ago quarter. Gannett is facing the same dramatic decline in advertising revenue ...

Amid the secular and cyclical slowdown in print advertising, McClatchy Company (MNI), the third largest newspaper company in the U.S. and the publisher of 30 daily newspapers including the Miami Herald and Sacramento Bee, reported third-quarter 2009 results. McClatchy is facing the same dramatic decline in advertising revenue, as the rest of the newspaper industry. Total advertising revenue fell 28.1% year-on-year to $266.1 million. However, circulation revenue stabilized, up 6.7% to $69 million due to increase in circulation prices. As a result, total revenue slipped 23.1% to $347.4 million. To combat the downturn, management undertook cost-cutting initiatives, focused on building Internet operations and reduced debt load. McClatchy had lowered its headcounts, and cut executive pay. The company was able to lower its cash expenses by 29.4% and total operating expenses by 30.2%. McClatchy’s quarterly earnings remained flat at 13 cents a share compared to ...

Amid the secular and cyclical slowdown in print advertising, McClatchy Company (MNI), the third largest newspaper company in the U.S. and the publisher of 80 newspapers including the Miami Herald and Sacramento Bee, reported second quarter 2009 results.  The company is facing the same dramatic decline in advertising revenue, as the rest of the newspaper industry, reflecting the deepening economic recession. To combat the downturn, management undertook cost-cutting initiatives, focused on building internet operations and reduced debt load. McClatchy lowered its headcounts by 15%, or 1,600 employees, cut executive pay, suspended 401K matching contribution and dividend. The company was able to lower its cash expenses by 29.3% and operating expenses by 28.1%.  Consequently, EPS increased 42.9% year over year to $0.30. On a reported basis, EPS more than doubled to $0.50. Total revenue, however, plummeted 25.4% to $365.3 million, as the fall in total advertising revenue ...

Journal Communications (JRN), a diversified media company with publishing, broadcasting (TV & radio), printing, and direct marketing businesses, recently reported another dismal quarter of plummeting revenue and plunging EPS amid a turbulent economic environment.  The company is feeling the brunt of a slump in advertising demand. Total advertising revenue at the publishing division declined 28.3% year over year to $32.1 million in the second quarter of 2009, although circulation revenue stabilized (up 3.8%). The company saw a sharp fall in automotive advertising (down 56% in the daily newspaper and 49% in broadcasting), the sector that has been hit most by the global recession.  Total revenue tumbled 21.9% to $109.4 million, and as a result, EPS declined more than 50% to $0.07 – in line with our estimate, but ahead of market expectation of $0.03. On a reported basis, however, the company reported net loss per share ...

Shares of Gannett Co. (GCI) surged 28.9% to close at $4.50 on Jul 15, 2009. The upbeat sentiment in the stock was due to the company’s stronger-than-expected second-quarter results, due to cost-cutting initiatives such as job cuts, salary reduction, furloughs and lower newsprint expenses. The company is laying off nearly 1,400 employees or about 3% of its headcount.

Gannett reported EPS of $0.46, excluding special items, surpassing the Street estimate of $0.37. Although, EPS fell more than 50% year over year, it increased sharply by 84% on a sequential basis. On a reported basis, the company's EPS was $0.30, compared to a net loss per share of $10.03 in the prior-year quarter.

Total revenue, however, tumbled 17.8% to $1,412.6 million due to sustained weakness in the U.S. and U.K. economies. The turbulent economy continues to hamper advertising revenue. Gannett's Publishing segment revenue declined 25.8% to $1,117.3 million as newspaper advertising

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Gannett Co. (GCI), the news and information company, has been struggling with plummeting advertising revenue for a long time, which has forced job cuts to control rising operating costs. The advertising revenue dipped 34.1%, whereas circulation revenue plunged 3.1% in the first quarter of 2009.

Recently, on July 2, 2009, the company announced that it would lay off 1,400 employees or about 3% of its headcount this month at its publishing division. Gannett announced that each of its markets will complete its own downsizing plan depending on local conditions.

On July 9, 2009, the Courier-Journal newspaper operating in the Louisville market laid off 44 employees, or 7% of its work force, as part of the company’s downsizing plan. Earlier, 51 employees were laid off in December 2008. The Arizona Republic newspaper operating in Phoenix lowered its headcount by 100.

The company also started executing its plans to eliminate 106 full-time and 19

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Publishing Industry in Crisis - Business Model Lags Changing Times

The sinking economy is forcing many publishing houses to the life-support of bankruptcy after a long illness. The eight-year deceleration in print advertising, fueled by a secular migration of readers to the Internet, has gone into free fall.

Newspapers have fared far worse than magazines, as web-based news options have proliferated in recent years. Circulation of newspapers fell 2-3% on average each year from 2005 through 2007, and that has accelerated to the mid-single digits in recent months as the economy cratered. Ad revenue is falling between 15-20% or more at many publications. A portion of classified has moved to wider-spread, more targeted, lower-priced or free options, such as ebay or Craigslist, and will not likely return.

In an effort to offset declining print revenue and market share, publishers are scrambling to leverage their brands and build complimentary web-based publications. But the deepening

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