Gannett Announces Second Quarter 2020 Results
• Second quarter revenues of $767.0 million rose 89.7% as compared to the prior year, reflecting the Acquisition. ◦ Same store pro forma revenues (as defined and reconciled below) decreased 28.0%, due to unfavorable impacts resulting from the COVID-19 pandemic and general trends adversely impacting the publishing industry. • Digital advertising and marketing services revenues were $168.8 million in the second quarter, or 22.0% of total revenues. • Over $160 million in annualized synergy measures were implemented by the end of the second quarter, with approximately $41.2 million in savings recognized in the quarter.