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Investing in websites is no cure for collapse

Gannett has increased its investment in a number of successful advertising Web sites including CareerBuilder and PointRoll. As the media industry shifts its focus to the Internet, a company's ability to draw advertising revenue online becomes increasingly important. In Q4 2008, the company's print advertising revenues decreased by 22.7% so the company's emerging online presence is becoming increasingly more vital to its future success. However, the increase in online revenues has now tapered off in this recession-depression, so online gains will not come close to off-setting the drastic decline in print ad revenues in 2008 and 2009, with its disastrous affect on earnings and stock price, down to around $2/share at end of 1st quarter 2009.

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