Exhibit 11

CALCULATION OF EARNINGS PER SHARE

Gannett Co., Inc. and Subsidiaries

Unaudited, in thousands of dollars (except per share amounts)

	Thirteen weeks ended
	Sept. 26, 2004		Sept. 28, 2003
Basic earnings:
Net income	$	310,209	$	279,032
Weighted average number of common shares outstanding		261,146		269,815
Earnings per share - basic	$	1.19	$	1.03
Diluted earnings:
Net income	$	310,209	$	279,032
Weighted average number of common shares outstanding		261,146		269,815
Dilutive effect of outstanding stock options and stock incentive rights		2,658		2,359
Weighted average number of shares outstanding, as adjusted		263,804		272,174
Earnings per share - diluted	$	1.18	$	1.03
	Thirty-nine weeks ended
	Sept. 26, 2004		Sept. 28, 2003
Basic earnings:
Net income	$	939,049	$	853,175
Weighted average number of common shares outstanding		267,898		268,947
Earnings per share - basic	$	3.51	$	3.17
Diluted earnings:
Net income	$	939,049	$	853,175
Weighted average number of common shares outstanding		267,898		268,947
Dilutive effect of outstanding stock options and stock incentive rights		2,964		2,167
Weighted average number of shares outstanding, as adjusted		270,862		271,114
Earnings per share - diluted	$	3.47	$	3.15