Business Services Industry
Gannett's shopper purchase concerns journalists
Business Record (Des Moines), April, 2004 by Joe Gardyasz
The Des Moines Register's acquisition last week of a group of 13 weekly shopper newspapers serving Greater Des Moines sparked concern from some journalists, and raised speculation about possible further acquisitions in Iowa by parent company Gannett Co. Inc.
From a business perspective, buying the shoppers makes good sense and will allow the Register to offer advertisers a more targeted buy for their money, said a newspaper broker.
The Des Moines Register is one of 101 daily newspapers owned by Gannett, the nation's largest newspaper group, with a combined daily circulation of 7.6 million.
The publicly traded media company reported fourth-quarter earnings of $358 million, up 3 percent from fourth-quarter 2002. Total operating revenues increased 6...
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