EX-99.1 11 c76713exv99w1.htm EXHIBIT 99.1 Filed by Bowne Pure Compliance
Exhibit 99.1
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars
Excludes discontinued operations
On September 3, 2008, the Company increased its ownership in CareerBuilder LLC (CareerBuilder) to 50.8% from 40.8%, and in connection therewith became the majority and controlling owner of CareerBuilder. Accordingly, the results of CareerBuilder beginning with September 2008 are now fully consolidated. On June 30, 2008, the Company increased its ownership in ShopLocal LLC (ShopLocal) to 100% from 42.5%, and from that date the results of ShopLocal are now fully consolidated. Prior to these acquisitions, the equity share of CareerBuilder and ShopLocal results were reported as equity earnings.
Beginning with the third quarter of 2008, a new “Digital” business segment is being reported, which includes CareerBuilder and ShopLocal results from the date of full consolidation, as well as PointRoll, Planet Discover and Schedule Star. Prior period results for PointRoll, Planet Discover and Schedule Star have been reclassified from the publishing segment to the digital segment. The table below shows the recast segment results reflecting the new segment.
                                                                 
    First Quarter     Second Quarter     Third Quarter     Year-to-Date  
    2008     2007     2008     2007     2008     2007     2008     2007  
 
                                                                
Operating Revenues
                                                                
Publishing
   $ 1,492,796     $ 1,635,068     $ 1,505,413     $ 1,691,623     $ 1,362,716     $ 1,591,972     $ 4,360,925     $ 4,918,663  
Digital
     13,893       13,087       20,008       16,346       77,594       17,181       111,495       46,614  
Broadcasting
     170,180       183,059       192,568       204,666       197,000       189,540       559,748       577,265  
 
                                                
Total
   $ 1,676,869     $ 1,831,214     $ 1,717,989     $ 1,912,635     $ 1,637,310     $ 1,798,693     $ 5,032,168     $ 5,542,542  
 
                                                
 
                                                                
Operating Income (Loss)
                                                                
Publishing
   $ 286,394     $ 338,546     $ (2,207,296 )   $ 395,357     $ 183,432     $ 329,365     $ (1,737,470 )   $ 1,063,268  
Digital
     (862 )     2,062       4,510       3,922       6,136       6,043       9,784       12,027  
Broadcasting
     57,805       64,162       79,234       87,412       83,957       71,479       220,996       223,053  
Corporate
     (15,706 )     (23,053 )     (9,994 )     (18,700 )     (14,344 )     (17,758 )     (40,044 )     (59,511 )
 
                                                
Total
   $ 327,631     $ 381,717     $ (2,133,546 )   $ 467,991     $ 259,181     $ 389,129     $ (1,546,734 )   $ 1,238,837  
 
                                                
 
                                                                
Depreciation/Amortization/ Intangible Asset Impairment
                                                                
Publishing
   $ 54,002     $ 57,015     $ 2,546,717     $ 57,837     $ 48,224     $ 56,264     $ 2,648,943     $ 171,116  
Digital
     1,377       1,296       1,405       1,326       4,094       1,330       6,876       3,952  
Broadcasting
     8,495       8,723       10,160       8,459       8,513       8,270       27,168       25,452  
Corporate
     3,968       4,006       5,176       3,910       3,974       4,005       13,118       11,921  
 
                                                
Total
   $ 67,842     $ 71,040     $ 2,563,458     $ 71,532     $ 64,805     $ 69,869     $ 2,696,105     $ 212,441