Gannett Releases Mixed Report, Net Income Increases

The company that owns the Courier-Journal and many other newspapers delivered a mixed earnings report Monday that was slightly below analyst's expectations.Through cost cuts and an increase in advertising in its TV division, Gannett managed a 30% increase in net income in the last quarter of 2010. The company's publishing division, however, saw losses, as circulation and advertising revenue dropped.A Gannett spokesperson says it's too early to tell what the report may mean for individual newspapers. Reporters at those papers have faced another round of furloughs recently to cut costs.