The Asheville Citizen-Times made 23.49% profit on ad sales of $20.6 million between January and September 2007, according to Gannett-watchdog blogger Jim Hopkins in a post here that details the margins and sales of more than 80 Gannett papers.
Hopkins says that the numbers were obtained from internal reports provided to him by a reader of his blog who asked to remain anonymous. His post provides no additional corroboration of the numbers.
“The numbers are startling,” Hopkins writes, “especially now, with Gannett poised to lay off perhaps thousands of newspaper workers next week in another bid to boost the company’s flagging stock. Every newspaper except Detroit’s was profitable a year ago — although some, just barely so.”
The Asheville Citizen-Times’ net profit from ad sales during the first nine months of 2007 would come to $4.8 million, according to Hopkins’ calculations.
It’s widely recognized that the economy and daily newspapers in general have fared much worse this year than last. While Hopkins’ reported figures do not indicate what Gannett papers are making this year, it’s likely to be a good deal less.
— Jeff Fobes, editor/publisher