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,

...

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 ...

Recently, CBS News, a unit of CBS Corporation (CBS) entered into a strategic deal with GlobalPost, a global news provider, whereby the latter will provide international news coverage to CBS for a monthly fee. The terms of the agreement were not disclosed yet.  Immense competition from cable and online media, and the shrinking print advertising revenue had compelled CBS and other broadcasters to scale back on international coverage by laying off reporters and editors to save costs, and to look for other cost effective way to get international news.  As per the deal, GlobalPost would offer its network of 70 correspondents placed in 50 countries readily available to CBS News. Since its launch in January 2009, the site has been gradually increasing its video contents and reportedly has an average of 400,000 unique visitors every month.  GlobalPost has already signed strategic deals with 25 other ...

WPO EPS Rises Despite Plummeting Ad Revenue Washington Post Company (WPO) recently reported second quarter 2009 results with single-digit growth posted in both top-line and bottom-line despite decline in advertising revenue. Revenue for the reported quarter increased 2% year over year to $1,128.5 million, driven by revenue growth at the Education and Cable Television divisions, which were offset by revenue declines at the Newspaper Publishing, Television Broadcasting and Magazine Publishing divisions. EPS for the reported quarter increased 1.6% to $5.72, surpassing Zacks Consensus Estimate of $3.62. On a reported basis, quarterly EPS was $1.30 compared to a net loss per share of $0.31 reported in the prior year quarter. While times are tough, the company’s diversified business mix is faring better than many of its publishing house competitors – Education and Cable Television divisions. Education division delivered strong performance – revenue up 13% to $649.3 ...

Martha Stewart Living Omnimedia (MSO) recently reported dismal second quarter 2009 results with declining top-line and negative EPS, which were offset to some extent by cost savings measures and robust Internet advertising revenue. The company reported net loss per share of $0.02 for the quarter under review compared to an EPS of $0.01 reported in the prior year quarter. However, it did surpass Zacks Consensus Estimate of net loss per share of $0.04. On a reported basis, the company reported net loss per share of $0.12. Revenue for the reported quarter plummeted 26.1% year over year to $57 million reflecting challenging magazine advertising market and decline in merchandising revenue, offset by sustained growth in Internet advertising revenue. Total adjusted EBITDA also declined 47.6%. Publishing revenue fell 27.5% to $33.5 million due to lower advertising pages and softness in newsstand revenue. Total print advertising revenue declined 33% and ...

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 ...

Highlights include Gannett Co., Inc. (GCI) and The New York Times Company (NYT).Gannett Outlook Gloomy Despite Strong Growth at USATODAY.comGannett (GCI) shares rocketed 14% today after the company reported that online advertising revenue at USA Today, its flagship domestic paper, grew 27% year-over-year in February.This is the largest online revenue increase among the national newspapers, and is in stark contrast to many, including The New York Times (NYT), which began to suffer recession-induced declines in online ad revenues in 4Q08. The Tech section of USATODAY.com drove growth, doubling its unique visitors to 1.9 million.Newspapers have scrambled to build website operations as readers and advertisers move online. Many are now suffering the consequences of an ad-only business model. Future survival will likely necessitate a fee-based system, whether in the form of subscriptions or micro-payments for mini-subscriptions (columns, blogs, ...

Gannett (GCI) shares rocketed 14% today after the company reported that online advertising revenue at USA Today, its flagship domestic paper, grew 27% year-over-year in February. This is the largest online revenue increase among the national newspapers and is in stark contrast to many, including the New York Times (NYT), which began to suffer recession-induced declines in online ad revenues in 4Q08. The Tech section of USATODAY.com drove growth, doubling its unique visitors to 1.9 million. Newspapers have scrambled to build website operations as readers and advertisers move online. Many are now suffering the consequences of an ad-only business model. Future survival will likely necessitate a fee-based system, whether in the form of subscriptions or micro-payments for mini-subscriptions (columns, blogs, sections) Despite vigorous growth, revenue from USA Today's nascent online operations was not enough to compensate for tumbling print advertising revenue, and together they fell ...