Newspaper publisher Gannett Co. reported its third-quarter profits fell 32 percent due to a decline in ad revenue.
Revenue fell 9 percent to $1.6 billion, due to an 18 percent drop in the publishing division.
Its net income was $158 million, or 69 cents a share, compared to $234 million last year, or $1.01 per share.
The company announced the elimination of about 1000 jobs back in August to cut costs, and it recently amped up its digital properties including gaining complete ownership of ShopLocal and buying a majority stake in CareerBuilder.
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