Gannett media empire 3rd quarter loss spun as “increased revenue”

From Trey Williams at USA Today MarketWatch:

Gannett Co. Inc. GCI, -4.38% on Thursday reported a loss of $24.24 million, or 21 cents per share for the third quarter vs. earnings of $39.17 million, or 33 cents per share during the same period last year. Adjusted earnings for the quarter were 6 cents, well below FactSet’s 19 cents per-share consensus. More.

Reality check: The modest increase in revenue is not going to change the overall picture: doom

Some conservative commentators write as though the dying mainstream media’s dismal financial stats are a just reward for being in the tank for progressivism.

No. The public doesn’t disagree with the dying mainstream media’s view of life so much as it does not look to them for news or opinion leadership any more.

Americans who have chosen welfare over work do not care if Clinton is corrupt beyond imagination They themselves either do not pay taxes or else they work for government. And Clinton’s big backers have tax lawyers who arrange that their clients do not pay much in taxes either.

All the Clinton voter need do is ignore the inevitable loss of civil liberties that ensues in such a system. But the losses are chiefly felt by others. The Clinton voter will principally be interested in demanding ever more from government, in an endless cycle of identity, grievance, and entitlement politics. Those who have other interests (academic freedom, religious freedom, etc.) do not matter in such a system and are likely to be seen as a threat.

Only the expendable North American in the middle, who still believes in reality and wants to work, is harmed by the new system. He (“deplorable”) probably votes for Trump and will be fixed for doing so later.

But fixing him (or Trump) won’t help Gannett survive.

See also: Rapid fall in Big Five TV ratings

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