Gannett said on Wednesday that it doesn’t plan to jettison its broadcast operations from its much larger print business, putting to rest the speculation for now that just because Belo and Scripps did it, Gannett would do it too. “At this time, no, our position has not changed,” Chief Executive Craig Dubow told financial analysts on a conference call to discuss the company’s third-quarter earnings. While some analysts have said that there may be little value in it for Gannett, it was the first question to come up during the call.
And why wouldn’t it be? Newspaper publishers are flying through an ad market that’s 100 times more turbulent than even the Aeroflot flight I took in 1990 from Moscow to Leningrad during a raging snowstorm when I thought we would surely die. With few bright ideas and online advertising sales still not compensating for the print declines, financial soothsayers are starting to discern all sorts of funky visions in their crystal balls.
This one seemed like a fair idea, of course: Scripps and Belo both said they’d split up to “unlock value” in their companies. But Gannett gets most of its business from print, whereas the others have large broadcast businesses weighed down by some newspapers. The bottom line is: no changes on the horizon.
Would you split up the company if you were king of Gannett?

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