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<SEC-DOCUMENT>0000039899-05-000003.txt : 20050126
<SEC-HEADER>0000039899-05-000003.hdr.sgml : 20050126
<ACCEPTANCE-DATETIME>20050126091403
ACCESSION NUMBER:		0000039899-05-000003
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20050126
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20050126
DATE AS OF CHANGE:		20050126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GANNETT CO INC /DE/
		CENTRAL INDEX KEY:			0000039899
		STANDARD INDUSTRIAL CLASSIFICATION:	NEWSPAPERS:  PUBLISHING OR PUBLISHING & PRINTING [2711]
		IRS NUMBER:				160442930
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06961
		FILM NUMBER:		05548501

	BUSINESS ADDRESS:	
		STREET 1:		7950 JONES BRANCH DRIVE
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22107-0910
		BUSINESS PHONE:		7038546000

	MAIL ADDRESS:	
		STREET 1:		7950 JONES BRANCH DRIVE
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22107-0910
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>8k</TITLE>
</HEAD>
<BODY bgColor=#ffffff>
<P align=center style="margin-top: 0; margin-bottom: 0"><font size="2"><b>UNITED
STATES</b></font>
<P align=center style="margin-top: 0; margin-bottom: 0"><font size="2"><b>SECURITIES AND EXCHANGE
COMMISSION<BR>Washington, D.C. 20549</b></font>
<HR align=center width="18%" noShade SIZE=1>

<DIV align=center><B><font size="3">FORM 8-K</font></B>
<P align=center><FONT size=2><B>CURRENT REPORT<BR>PURSUANT TO
SECTION 13 OR 15(d)</B> <B>OF THE<BR>SECURITIES EXCHANGE ACT OF 1934</B>
</FONT></P></DIV>
<P align=center><font size="2">Date of Report (date of earliest event reported):</font>
<P align=center><font size="2">January 26, 2005</font>
<P align=center><FONT size=4><B>GANNETT CO., INC.</B></FONT><BR><FONT
size=2>(Exact name of registrant as specified in charter) </FONT>
<CENTER>
<TABLE cellSpacing=0 cellPadding=0 width="681" border=0>
    <TR vAlign=bottom>
    <TD width="227">&nbsp;</TD>
    <TD width="227">&nbsp;</TD>
    <TD width="227">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"><FONT size=2><B>Delaware</B></FONT></TD>
    <TD width="227" align="center"><FONT size=2><b>&nbsp;1-6961</b></FONT></TD>
    <TD vAlign=top align=middle width="227"><FONT size=2><B>16-0442930</B></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=middle width="227"><FONT size=2>(State or Other
      Jurisdiction of Incorporation or&nbsp;<br>
 Organization of Registrant)</FONT></TD>
    </CENTER>
    <TD width="227" valign="top" align="center"><FONT size=2>(Commission File
      Number)&nbsp;</FONT></TD>
<CENTER>
    <TD vAlign=top align=middle width="227"><FONT size=2>(I.R.S. Employer Identification
      No.)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD width="227">&nbsp;</TD>
    <TD width="227">&nbsp;</TD>
    <TD width="227">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"><FONT size=2><B>7950 Jones Branch Drive,
      McLean, Virginia</B></FONT></TD>
    <TD width="227"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="227"><FONT size=2><B>22107-0910</B></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"><FONT size=2>(Address of principal executive
      offices)</FONT></TD>
    <TD width="227"><FONT size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="227"><FONT size=2>(Zip
Code)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227" align="center"><font size="2"><b>(703) 854-6000</b></font></TD>
    <TD vAlign=top align=middle width="227"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227" align="center"><FONT size=2>(Registrant's telephone number, including area
      code) </FONT>
    </TD>
    <TD vAlign=top align=middle width="227"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227"><font size="2">&nbsp;</font></TD>
    <TD vAlign=top align=middle width="227"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227" align="center"><font size="2"><b>Not Applicable</b></font></TD>
    <TD vAlign=top align=middle width="227"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=middle width="227"></TD>
    <TD width="227" align="center"><font size="2">(Former name or former
      address, if changed since last report.)</font></TD>
    <TD vAlign=top align=middle width="227"></TD></TR></TABLE></CENTER>
<p><font size="2">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:</font></p>
<p><font size="2">[ ] Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</font></p>
<p><font size="2">[ ] Soliciting material pursuant to rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</font></p>
<p><font size="2">[ ] Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
<p><font size="2">[ ] Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</font></p>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<P align=left style="margin-top: 0; margin-bottom: 0"><font size="2"><b>Item 2.02&nbsp; Results of Operations and Financial
Condition.</b></font>
<p style="text-indent: 25"><font face="Times New Roman" size="2">On January 26, 2005, Gannett Co., Inc.
reported its consolidated financial results for the fourth quarter and year ended
December 26, 2004.&nbsp;&nbsp; On January 26, 2005, the company also issued a press release
announcing the company's statistical report for the period and quarter ended
December 26, 2004.&nbsp; Copies of these press releases are furnished with this
report as exhibits.</font></p>
<P align=center style="margin-top: 0; margin-bottom: 0">&nbsp;
<P align=center style="margin-top: 0; margin-bottom: 0"><font size="2">SIGNATURE</font>
<P align=left><font size="2">Pursuant to requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.</font>
<TABLE cellSpacing=0 cellPadding=0 width="613" border=0>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="320"></TD>
    <TD width="45"></TD>
    <TD vAlign=top align=left width="242">
      <p align="left"><font size="2">Gannett Co., Inc.</font></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="320"></TD>
    <TD width="45"></TD>
    <TD vAlign=top align=left width="242"><font size="2">&nbsp;</font></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="320">
      <p align="left"><font size="2">Date:&nbsp; January 26, 2005</font></p>
    </TD>
    <TD width="45"><font size="2">By:</font></TD>
    <TD vAlign=top align=left width="242"><font size="2"><u>&nbsp;/s/George R. Gavagan&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;&nbsp;</u></font></TD></TR>
  <TR vAlign=bottom>
    <TD width="320"><font size="2">&nbsp;</font></TD>
    <TD width="45"><font size="2">&nbsp;</font></TD>
    <TD width="242"><font size="2">George R. Gavagan</font></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top align=left width="320"></TD>
    <TD width="45"></TD>
    <TD vAlign=top align=left width="242"><font size="2">Vice President and Controller</font></TD></TR>
</TABLE>
<p><font size="2">Exhibit Index</font></p>
<TABLE cellSpacing=0 cellPadding=0 width="470" border=0 height="35">
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=middle width="47" height="18">
      <p align="left"><font size="2">Exhibit</font></p>
    </TD>
    <TD width="13" height="18"></TD>
    <TD vAlign=top align=left width="405" height="18"><font size="2">Description</font></TD></TR>
  <TR vAlign=bottom>
    <TD width="47" height="32">
      <p align="left"><font size="2">99.1</font></p>
    </TD>
    <TD width="13" height="32"></TD>
    <TD width="405" height="32"><font size="2">Gannett Co., Inc. Earnings Press Release
      dated January 26, 2005.</font></TD></TR>
  <tr>
    <TD width="47" height="32">
      <p align="left"><font size="2">99.2</font></p>
    </TD>
    <TD width="13" height="32"></TD>
    <TD width="405" height="32"><font size="2">Gannett Co., Inc. Statistical
      Report Press Release
      dated January 26, 2005.</font></TD>
  </tr>
</TABLE>
</BODY></HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>exh99-1.htm
<DESCRIPTION>EXHIBIT 99.1 EARNINGS PRESS RELEASE DATED JANUARY 26, 2005
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY>
<p align="left">News Release
<p align="right">Wednesday, January 26, 2005</p>
<p align="center" style="margin-top: 0; margin-bottom: 0"><b>Gannett Co., Inc. Reports
Fourth Quarter and Full-Year Results</b></p>
<p style="text-indent: 25">McLEAN, VA - Gannett Co., Inc. (NYSE: GCI) reported
today that 2004 fourth quarter earnings per diluted share, on a GAAP (generally
accepted accounting principles) basis, were $1.47 versus $1.31 per share for the
fourth quarter of 2003. For the full year 2004, diluted earnings per share, on a
GAAP basis, were $4.92, compared with $4.46 for 2003, a new record. </p>
<p style="text-indent: 25">Total operating revenues for the company increased
7.7 percent to $1.96 billion in the quarter from $1.82 billion in the similar
interval in 2003. Net income increased 5.6 percent to $378.1 million in the
fourth quarter of 2004 versus $358.0 million in the same quarter of last year.
Operating cash flow (defined as operating income plus depreciation and
amortization) rose 5.7 percent to $673.2 million from $637.1 million in the year
earlier quarter.</p>
<p style="text-indent: 25">For the full year, operating revenues increased 10.0
percent to $7.4 billion. Net income rose 8.7 percent to a record $1.32 billion
from $1.21 billion in 2003 for the year. Operating cash flow advanced 8.1
percent to $2.4 billion from $2.2 billion in 2003.</p>
<p style="text-indent: 25">Average diluted shares outstanding in the fourth
quarter totaled 257,673,000 compared with 274,257,000 in 2003's fourth quarter.
Average diluted shares outstanding for all of 2004 were 267,590,000 versus
271,872,000 in 2003. Approximately 3.5 million shares were repurchased during
the quarter and a total of approximately 20 million for the year.</p>
<p style="text-indent: 25">Commenting on the company's performance, Douglas H.
McCorkindale, Chairman, President and CEO said: &quot;Gannett's industry leading
revenue performance helped us achieve record operating results for all of 2004,
despite an uneven advertising environment. Our results in the fourth quarter
reflected strong revenue growth in our broadcasting segment driven by
significant levels of politically-related advertising. We also reported solid
revenue growth in the newspaper segment due, in part, to higher demand for local
and classified advertising. In the UK, Newsquest again posted improved results
which also benefited from a favorable exchange rate. However, higher newsprint
expense and certain employee benefit costs tempered the company's results.
&quot;</p>
<p style="text-indent: 25" align="center"><br>
<b><u>NEWSPAPERS</u></b></p>
<p style="text-indent: 25">Newspaper results in the quarter include Clipper
Magazine, Inc. (acquired in October 2003), and NurseWeek (acquired in February
2004). Operating revenues were $1.7 billion for the quarter, a 6.4 percent
increase from the fourth quarter of 2003. Assuming Gannett had owned the same
group of newspapers in both the fourth quarter of 2004 and 2003, advertising
revenues would have risen 5.5 percent. On a comparable basis, local advertising
revenues were 5.2 percent higher, classified increased 8.7 percent and national
ad revenues were unchanged. Newspaper ad volume declined 1.2 percent. Total
newspaper segment operating cash flow increased 1.8 percent to $553.8 million in
the fourth quarter, versus $544.2 million in the same quarter of 2003. Reported
newsprint expense increased 7.5 percent in the quarter, reflecting higher prices
but lower usage.</p>
<p style="text-indent: 25">At USA TODAY, advertising revenues declined 5.3
percent in the fourth quarter. Paid advertising pages totaled 1,315 compared
with 1,580 in the same quarter of 2003. For the full year, USA TODAY's
advertising revenues increased 6.6 percent and paid pages totaled 4,763, a 3.2
percent decline.</p>
<p align="center"><b><u>BROADCASTING</u></b></p>
<p style="text-indent: 25">Broadcasting segment results in the quarter include
Captivate Network Inc., acquired in April 2004. Broadcasting revenues totaled
$233.4 million for the quarter, an 18.7 percent increase from the fourth quarter
in 2003. Broadcasting operating cash flow increased 27.0 percent to $132.6
million from $104.4 million in the year ago quarter.</p>
<p style="text-indent: 25">Excluding Captivate, in the fourth quarter of 2004,
television operating cash flow rose 27.3 percent and revenues increased 16.2
percent. The television group's performance reflected strong demand for
politically-related advertising in the fall.</p>
<p align="center"><u><b>NON-OPERATING ITEMS</b></u></p>
<p style="text-indent: 25">Interest expense for the fourth quarter was $41.0
million compared to $33.0 million in the same quarter of 2003, a 24.5 percent
increase. The increase is attributable to both higher short-term interest rates,
and debt outstanding related to share repurchase activity. Other non-operating
expense primarily reflects non-operating charges for minority interest and
Internet investments in part offset by currency gains and investment income.</p>
<p style="text-indent: 25">At the end of the year, Gannett had more than 100
domestic publishing Web sites, including USATODAY.com, one of the most popular
newspaper sites on the Web. The company also had Web sites in all of its 19
television markets. In December, Gannett's consolidated domestic Internet
audience share was 18.1 million unique visitors reaching about 12 percent of the
Internet audience according to Nielsen//NetRatings. Newsquest is also an
Internet leader in the UK where its network of Web sites attracts more than 29.7
million monthly page impressions from more than 3.1 million unique users.<br>
<br>
</p>
<p style="text-indent: 25">All references in this release to
&quot;comparable&quot; revenue results and &quot;operating cash flow&quot; are
to non-GAAP financial measures. Management believes that this use allows
management and investors to
analyze and compare the Company's results in a more meaningful and consistent
manner. A reconciliation of the non-GAAP operating cash flow amounts to the
Company's consolidated statements of income is attached.</p>
<p style="text-indent: 25">As previously announced, the company will hold an
earnings conference call at 10:00 a.m. ET today. The call can be accessed via a
live Webcast through the Investor Relations section of the company's Web site,
www.gannett.com, or listen-only conference lines. U.S. callers should dial
1-888-283-6901 and international callers should dial 1-719-955-1564 at least 10
minutes prior to the scheduled start of the call. The confirmation code for the
conference call is 338438. To access the replay, dial 1-888-203-1112 in the U.S.
International callers should use the number 1-719-457-0820. The confirmation
code for the replay is 338438. Materials related to the call will be available
through the Investor Relations section of the company's Web site Wednesday
morning.</p>
<p style="text-indent: 25">Gannett Co., Inc. is a leading international news and
information company that publishes 101 daily newspapers in the USA, including
USA TODAY, the nation's largest-selling daily newspaper. The company also owns
more than 600 non-daily publications in the USA and USA WEEKEND, a weekly
newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second
largest regional newspaper company. Newsquest publishes more than 300 titles,
including 17 daily newspapers, and a network of prize-winning Web sites. Gannett
also operates 21 television stations in the United States and is an Internet
leader with sites sponsored by its TV stations and newspapers including
USATODAY.com, one of the most popular news sites on the Web.</p>
<p style="text-indent: 25">Certain statements in this press release may be
forward looking in nature or &quot;forward looking statements&quot; as defined
in the Private Securities Litigation Reform Act of 1995. The forward looking
statements contained in this press release are subject to a number of risks,
trends and uncertainties that could cause actual performance to differ
materially from these forward looking statements. A number of those risks,
trends and uncertainties are discussed in the company's SEC reports, including
the company's annual report on Form 10-K and quarterly reports on Form 10-Q. Any
forward looking statements in this press release should be evaluated in light of
these important risk factors.</p>
<p style="text-indent: 25">Gannett is not responsible for updating the
information contained in this press release beyond the published date, or for
changes made to this press release by wire services, Internet service providers
or other media.</p>
<p>For investor inquiries, contact:&nbsp;<br>
Jeffrey
Heinz&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
Director, Investor
Relations&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
703-854-6917&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
jheinz@gannett.com</p>
<p>For media inquiries, contact:<br>
Tara Connell<br>
Vice President of Corporate Communications<br>
703-854-6049<br>
tjconnel@gannett.com</p>
<p align="center">#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #</p>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<pre>CONSOLIDATED STATEMENTS OF INCOME
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars (except per share amounts)


                                  Thirteen weeks ended          % Inc
                            Dec. 26, 2004    Dec. 28, 2003       (Dec)
Net Operating Revenues:
Newspaper advertising       $   1,299,583    $   1,208,777        7.5
Newspaper circulation             314,500          307,003        2.4
Broadcasting                      233,395          196,679       18.7
Other                             114,934          109,845        4.6
                            -------------    -------------     ------
Total                           1,962,412        1,822,304        7.7
                            -------------    -------------     ------
Operating Expenses:
Cost of sales and operating
 expenses, exclusive of
 depreciation                     983,086          911,087        7.9
Selling, general and
 administrative expenses,
 exclusive of depreciation        306,125          274,161       11.7
Depreciation                       56,604           55,502        2.0
Amortization of intangible
 assets                             3,324            2,133       55.8
                            -------------    -------------     ------
Total                           1,349,139        1,242,883        8.5
                            -------------    -------------     ------
Operating income                  613,273          579,421        5.8
                            -------------    -------------     ------
Non-operating income
 (expense):
Interest expense                  (41,043)         (32,971)      24.5
Other                                (993)          (2,612)     (62.0)
                            -------------    -------------     ------
Total                             (42,036)         (35,583)      18.1
                            -------------    -------------     ------

Income before income taxes        571,237          543,838        5.0
Provision for income taxes        193,100          185,800        3.9
                            -------------    -------------     ------
Net income                  $     378,137    $     358,038        5.6
                            =============    =============     ======

Net income per share-basic          $1.48            $1.32       12.1
                                    =====            =====     ======
Net income per share-diluted        $1.47            $1.31       12.2
                                    =====            =====     ======
Dividends per share                 $0.27            $0.25        8.0
                                    =====            =====     ======


Broadcasting includes results from the company's 21 television stations and
Captivate Network, Inc. Captivate is a national news and entertainment network
which delivers programming and full motion video advertising through wireless
digital video screens in elevators of premier office towers. Captivate was
acquired in early April 2004.
</pre>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<pre>CONSOLIDATED STATEMENTS OF INCOME
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars (except per share amounts)


                                  Fifty-two weeks ended       % Inc
                            Dec. 26, 2004    Dec. 28, 2003     (Dec)
Net Operating Revenues:
Newspaper advertising       $   4,912,603    $   4,397,244       11.7
Newspaper circulation           1,238,097        1,212,891        2.1
Broadcasting                      821,543          719,884       14.1
Other                             409,040          381,096        7.3
                            -------------    -------------     ------
Total                           7,381,283        6,711,115       10.0
                            -------------    -------------     ------
Operating Expenses:
Cost of sales and operating
 expenses, exclusive of
 depreciation                   3,821,435        3,453,769       10.6
Selling, general and
 administrative expenses,
 exclusive of depreciation      1,168,148        1,044,796       11.8
Depreciation                      232,387          223,261        4.1
Amortization of intangible
 assets                            11,634            8,271       40.7
                            -------------    -------------     ------
Total                           5,233,604        4,730,097       10.6
                            -------------    -------------     ------
Operating income                2,147,679        1,981,018        8.4
                            -------------    -------------     ------
Non-operating income
 (expense):
Interest expense                 (140,647)        (139,271)       1.0
Other                             (11,646)          (1,434)       ***
                            -------------    -------------     ------
Total                            (152,293)        (140,705)       8.2
                            -------------    -------------     ------

Income before income taxes      1,995,386        1,840,313        8.4
Provision for income taxes        678,200          629,100        7.8
                            -------------    -------------     ------
Net income                  $   1,317,186    $   1,211,213        8.7
                            =============    =============     ======

Net income per share-basic          $4.98            $4.49       10.9
                                    =====            =====     ======
Net income per share-diluted        $4.92            $4.46       10.3
                                    =====            =====     ======
Dividends per share                 $1.04            $0.98        6.1
                                    =====            =====     ======



Broadcasting includes results from the company's 21 television stations and
Captivate Network, Inc. Captivate is a national news and entertainment network
which delivers programming and full motion video advertising through wireless
digital video screens in elevators of premier office towers. Captivate was
acquired in early April 2004.
</pre>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<pre>BUSINESS SEGMENT INFORMATION
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars

                                  Thirteen weeks ended          % Inc
                            Dec. 26, 2004    Dec. 28, 2003       (Dec)

Net Operating Revenues:
Newspaper publishing        $   1,729,017    $   1,625,625        6.4
Broadcasting                      233,395          196,679       18.7
                            -------------    -------------     ------
Total                       $   1,962,412    $   1,822,304        7.7
                            =============    =============     ======
Operating Income (net
 of depreciation and
 amortization):
Newspaper publishing        $     504,992    $     496,863        1.6
Broadcasting                      125,264           97,890       28.0
Corporate                         (16,983)         (15,332)     (10.8)
                            -------------    -------------     ------
Total                       $     613,273    $     579,421        5.8
                            =============    =============     ======
Depreciation and
 Amortization:
Newspaper publishing        $      48,801    $      47,386        3.0
Broadcasting                        7,370            6,537       12.7
Corporate                           3,757            3,712        1.2
                            -------------    -------------     ------
Total                       $      59,928    $      57,635        4.0
                            =============    =============     ======
Operating Cash Flow:
Newspaper publishing        $     553,793    $     544,249        1.8
Broadcasting                      132,634          104,427       27.0
Corporate                         (13,226)         (11,620)     (13.8)
                            -------------    -------------     ------
Total                       $     673,201    $     637,056        5.7
                            =============    =============     ======


Broadcasting includes results from the company's 21 television stations and
Captivate Network, Inc. Captivate is a national news and entertainment network
which delivers programming and full motion video advertising through wireless
digital video screens in elevators of premier office towers. Captivate was
acquired in early April 2004.

Operating Cash Flow represents operating income for each of the company's
business segments plus related depreciation and amortization expense. See
attachment for reconciliation of amounts to the Consolidated Statements of
Income.
</pre>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<pre>BUSINESS SEGMENT INFORMATION
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars

                                  Fifty-two weeks ended         % Inc
                            Dec. 26, 2004    Dec. 28, 2003       (Dec)

Net Operating Revenues:
Newspaper publishing        $   6,559,740    $   5,991,231        9.5
Broadcasting                      821,543          719,884       14.1
                            -------------    -------------     ------
Total                       $   7,381,283    $   6,711,115       10.0
                            =============    =============     ======
Operating Income (net
 of depreciation and
 amortization):
Newspaper publishing        $   1,813,814    $   1,713,163        5.9
Broadcasting                      400,743          330,054       21.4
Corporate                         (66,878)         (62,199)      (7.5)
                            -------------    -------------     ------
Total                       $   2,147,679    $   1,981,018        8.4
                            =============    =============     ======
Depreciation and
 Amortization:
Newspaper publishing        $     199,108    $     189,805        4.9
Broadcasting                       29,341           26,394       11.2
Corporate                          15,572           15,333        1.6
                            -------------    -------------     ------
Total                       $     244,021    $     231,532        5.4
                            =============    =============     ======
Operating Cash Flow:
Newspaper publishing        $   2,012,922    $   1,902,968        5.8
Broadcasting                      430,084          356,448       20.7
Corporate                         (51,306)         (46,866)      (9.5)
                            -------------    -------------     ------
Total                       $   2,391,700    $   2,212,550        8.1
                            =============    =============     ======


Broadcasting includes results from the company's 21 television stations and
Captivate Network, Inc. Captivate is a national news and entertainment network
which delivers programming and full motion video advertising through wireless
digital video screens in elevators of premier office towers. Captivate was
acquired in early April 2004.

Operating Cash Flow represents operating income for each of the company's
business segments plus related depreciation and amortization expense. See
attachment for reconciliation of amounts to the Consolidated Statements of
Income.
</pre>
<p align="center">&nbsp;</p>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<pre>NON-GAAP FINANCIAL INFORMATION
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars


&quot;Operating Cash Flow&quot;, a non-GAAP measure, is defined as operating
income plus depreciation and amortization of intangible assets.
Management believes that the use of this measure allows investors and
management to measure, analyze and compare the cash resources
generated from its business segment operations in a meaningful and
consistent manner. The focus on operating cash flow is appropriate
given the consistent and generally predictable strength of cash flow
generation by newspaper and television operations, and the short
period of time it takes to convert new orders to cash.

A reconciliation of these non-GAAP amounts to the company's operating
income, which the company believes is the most directly comparable
financial measure calculated and presented in accordance with GAAP on
the company's consolidated statements of income, follows:


Thirteen weeks ended Dec. 26, 2004

                   Newspaper                            Consolidated
                  Publishing   Broadcasting Corporate      Total
                  ----------   ----------   ---------   ------------
Operating
 cash flow        $  553,793   $  132,634   $ (13,226)  $    673,201
Less:
Depreciation         (45,640)      (7,207)     (3,757)       (56,604)
Amortization          (3,161)        (163)         -          (3,324)
                  ----------   ----------   ---------   ------------
Operating Income  $  504,992   $  125,264   $ (16,983)  $    613,273
                  ==========   ==========   =========   ============


Thirteen weeks ended Dec. 28, 2003

                   Newspaper                            Consolidated
                  Publishing   Broadcasting Corporate      Total
                  ----------   ----------   ---------   ------------
Operating
 cash flow        $  544,249   $  104,427   $ (11,620)  $    637,056
Less:
Depreciation         (45,253)      (6,537)     (3,712)       (55,502)
Amortization          (2,133)          -           -          (2,133)
                  ----------   ----------   ---------   ------------
Operating Income  $  496,863   $   97,890   $ (15,332)  $    579,421
                  ==========   ==========   =========   ============
</pre>
<pre>&nbsp;</pre>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<pre>
Fifty-two weeks ended Dec. 26, 2004

                   Newspaper                            Consolidated
                  Publishing   Broadcasting Corporate      Total
                  ----------   ----------   ---------   ------------
Operating
 cash flow        $2,012,922   $  430,084   $ (51,306)  $  2,391,700
Less:
Depreciation        (187,949)     (28,866)    (15,572)      (232,387)
Amortization         (11,159)        (475)        -          (11,634)
                  ----------   ----------   ---------   ------------
Operating Income  $1,813,814   $  400,743   $ (66,878)  $  2,147,679
                  ==========   ==========   =========   ============


Fifty-two weeks ended Dec. 28, 2003

                   Newspaper                            Consolidated
                  Publishing   Broadcasting Corporate      Total
                  ----------   ----------   ---------   ------------
Operating
 cash flow        $1,902,968   $  356,448   $ (46,866)  $  2,212,550
Less:
Depreciation        (181,534)     (26,394)    (15,333)      (223,261)
Amortization          (8,271)        -           -            (8,271)
                  ----------   ----------   ---------   ------------
Operating Income  $1,713,163   $  330,054   $ (62,199)  $  1,981,018
                  ==========   ==========   =========   ============</pre>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>exh99-2.htm
<DESCRIPTION>EXHIBIT 99.2 STATISTICAL REPORT PRESS RELEASE DATED JANUARY 26, 2005
<TEXT>
<html>

<head>
</head>

<body>

<p align="left">News Release </p>
<p align="right">Wednesday, January 26, 2005</p>
<p align="center"><b>Gannett Co., Inc. Releases December Statistical Report</b></p>
<p style="text-indent: 25">McLEAN, VA - Gannett Co., Inc. (NYSE: GCI) reported
today that total pro forma operating revenues for the twelfth period ended
December 26, 2004 increased 4.7 percent resulting from solid demand for local
and classified advertising in the newspaper segment. For comparison purposes,
the continued increase in the exchange rate of Sterling year-over-year affected
results for the company's UK operations. If the exchange rate had remained
constant year-over-year, total pro forma operating revenues would have increased
3.2 percent for the period. </p>

<p align="center"><b><u>December</u></b></p>
<p style="text-indent: 25">Pro forma (assuming that all properties presently
owned were owned in both periods) newspaper advertising revenues in December
increased 5.4 percent compared with 2003's twelfth period on a 3.5 percent
decline in ROP volume and a 2.9 percent advance in preprint distribution. If the
exchange rate had remained constant year-over-year, total pro forma newspaper
advertising revenues would have increased 3.8 percent.</p>
<p style="text-indent: 25">Pro forma local advertising revenues rose 5.4 percent
on a 3.1 percent decline in ROP ad volume in December. The performance of the
company's small and medium-sized advertisers in its domestic newspapers outpaced
the revenue performance of its largest advertisers. In the U.S., across all
products, local ad revenue gains were achieved in the department store, grocery,
health, financial and telecommunications categories while the furniture,
consumer electronics, entertainment, restaurant and home improvement categories
lagged last year's comparable period. On a constant currency basis, pro forma
local advertising would have been 4.3 percent higher.</p>
<p style="text-indent: 25">Pro forma classified revenues advanced 7.6 percent in
the twelfth period on a 3.5 percent decline in ROP ad volume. On a constant
currency basis, pro forma classified revenues would have increased 4.7 percent
for December. Employment revenues increased 20.9 percent, real estate revenues
were up 8.6 percent, and automotive declined 7.8 percent compared to last year's
twelfth period. On a constant currency basis, employment and real estate
revenues would have increased
16.7 percent and 5.8 percent, respectively, while automotive would have
decreased 9.2 percent.</p>
<p style="text-indent: 25">Pro forma national advertising revenues in December
rose 1.5 percent on a 7.5 percent decline in ad volume. National volume at the
company's local domestic newspapers fell 4.3 percent in the period. USA WEEKEND,
our weekly newspaper, experienced higher national ad revenues in the period.
While our revenue statistics include USA WEEKEND's results, their ad volume is
not included in the linage numbers. At USA TODAY, advertising revenues were 5.3
percent lower on a 17.5 percent decline in paid ad pages to 434 from 526. For
the twelfth period, at USA TODAY, strength in the retail, technology, automotive
and entertainment categories was more than offset by weakness in the travel,
pharmaceutical and telecommunications categories. On a constant currency basis,
national advertising would have increased 0.7 percent for the twelfth period.</p>
<p style="text-indent: 25">Pro forma broadcasting revenues, which include
Captivate, rose 1.5 percent in the period. Television revenues were 0.4 percent
higher with national revenues up 0.5 percent and local revenues up 0.7 percent.<br>
</p>
<p style="text-indent: 25" align="center"><u><b>
Fourth Quarter</b></u></p>
<p style="text-indent: 25">For the fourth quarter of 2004, total pro forma
operating revenues were up 6.2 percent and would have increased 4.9 percent on a
constant currency basis.</p>
<p style="text-indent: 25">Newspaper advertising revenues, on a pro forma basis,
for the fourth quarter increased 5.5 percent and would have increased 4.0
percent on a constant currency basis.</p>
<p style="text-indent: 25">For the fourth quarter, pro forma local advertising
rose 5.2 percent and would have advanced 4.3 percent on a constant currency
basis.</p>
<p style="text-indent: 25">Pro forma classified revenues for the quarter
increased 8.7 percent and on a constant currency basis would have been 6.0
percent higher. Employment revenues were up 18.3 percent, real estate was up
10.4 percent while auto was down 5.2 percent. On a constant currency basis for
the quarter, employment and real estate would have increased 14.3 percent and
7.7 percent, respectively, while auto would have declined 6.5 percent.</p>
<p style="text-indent: 25">Pro forma national advertising was flat for the
fourth quarter. If the exchange rate had remained constant year-over-year,
national advertising would have decreased 0.7 percent. At USA TODAY advertising
revenues declined 5.3 percent in the fourth quarter reflecting a 16.8 percent
decline in paid advertising pages to 1,315 compared to 1,580 in the year-ago
period. For the full year, USA TODAY's paid pages numbered 4,763 versus 4,918
last year while ad revenues were 6.6 percent higher than last year.</p>
<p style="text-indent: 25">Pro forma broadcasting revenues rose 17.0 percent and
television revenues increased 16.2 percent for the quarter benefiting from
strong election-related advertising demand. Based on current pacings, television
revenues for the first quarter of 2005 would be below last year's first quarter
results in the low to mid single digits. This is due, in part, to the absence of
Super Bowl related advertising on our CBS affiliates and political advertising
that benefited the first quarter of 2004.<br>
</p>
<p align="center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p>
<p style="text-indent: 25">In addition to the revenue and statistical summary,
attached is a chart which shows the consolidated Gannett Online audience share
for December from Nielsen//NetRatings. In December, Gannett's domestic Websites
had over 18 million unique visitors reaching 12.1 percent of the Internet
audience. In the UK, Newsquest's online audience in December totaled 3.1 million
unique visitors with 29.7 million page impressions.</p>
<p style="text-indent: 25">The pro forma advertising and circulation revenue
statistics include the results of Captivate (acquired in April 2004), NurseWeek
(acquired in February 2004), Clipper Magazine (acquired in October 2003), the
SMG (Newsquest's Scottish Media Group) publishing business and the Texas-New
Mexico Newspapers Partnership as if they had been owned in both years. Ad linage
for Newsquest, Clipper and NurseWeek are not included in the ad volume
statistics. Circulation volume numbers for Newsquest's paid daily newspapers are
included in the enclosed statistics, but volume from unpaid daily and non-daily
publications is not included in the circulation volume statistics.</p>
<p style="text-indent: 25">Prior to 2004, the company had included online
revenues in the classified advertising revenue total but not in the specific
classified categories of help wanted, automotive and real estate. Print and
online ad revenues are now reported on a combined basis to calculate the
percentage changes in these categories. Results for each period of 2003 have
been reclassified to reflect this change.<br>
</p>
<p style="text-indent: 25">Gannett Co., Inc. is a leading international news and
information company that publishes 101 daily newspapers in the USA, including
USA TODAY, the nation's largest-selling daily newspaper. The company also owns
more than 600 non-daily publications in the USA and USA WEEKEND, a weekly
newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second
largest regional newspaper company. Newsquest publishes more than 300 titles,
including 17 daily newspapers, and a network of prize-winning Web sites. Gannett
also operates 21 television stations in the United States and is an Internet
leader with sites sponsored by its TV stations and newspapers including
USATODAY.com, one of the most popular news sites on the Web.</p>
<p style="text-indent: 25">Certain statements in this press release may be
forward looking in nature or &quot;forward looking statements&quot; as defined
in the Private Securities Litigation Reform Act of 1995. The forward looking
statements contained in this press release are subject to a number of risks,
trends and uncertainties that could cause actual performance to differ
materially from these forward looking statements. A number of those risks,
trends and uncertainties are discussed in the company's SEC reports, including
the company's annual report on Form 10-K and quarterly reports on Form 10-Q. Any
forward looking statements in this press release should be evaluated in light of
these important risk factors.</p>
<p style="text-indent: 25">Gannett is not responsible for updating the
information contained in this press release beyond the published date, or for
changes made to this press release by wire services, Internet service providers
or other media.<br>
<br>
</p>
<p>Contact: Jeff Heinz<br>
Director, Investor Relations<br>
703-854-6917<br>
jheinz@gannett.com</p>
<p align="center">#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
#&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; #</p>
<hr><!-- PAGEBREAK -->
<H5 style="page-break-before: always; margin-top: 0; margin-bottom: 0" align=left>&nbsp;</H5>
<pre>GANNETT CO., INC.
REVENUE &amp; STATISTICAL SUMMARY

                      Period 12 (November 29, 2004 - December 26, 2004)
                                                                    %
                          2004           2003           CHANGE    CHANGE
REVENUES:
Advertising:
Local               $  196,113,000 $  186,092,000 $   10,021,000    5.4
National                70,356,000     69,314,000      1,042,000    1.5
Classified             136,233,000    126,580,000      9,653,000    7.6
		      ------------   ------------    -----------   ----
Total Advertising   $  402,702,000 $  381,986,000 $   20,716,000    5.4

Circulation            100,032,000     97,595,000      2,437,000    2.5
Other revenue           37,478,000     34,700,000      2,778,000    8.0
Broadcasting            56,534,000     55,712,000        822,000    1.5
  		      ------------   ------------    -----------   ----
Total Revenue       $  596,746,000 $  569,993,000 $   26,753,000    4.7
 		      ============   ============    ===========   ====

VOLUME:
Newspaper Inches:
Local                    3,420,627      3,529,959       (109,332)  (3.1)
National                   321,351        347,306        (25,955)  (7.5)
Classified               4,089,889      4,236,989       (147,100)  (3.5)
		      ------------   ------------    -----------   ----
Total ROP                7,831,867      8,114,254       (282,387)  (3.5)
		      ============   ============    ===========   ====
Preprint Distribution
  (in thousands)	 1,226,188      1,191,516         34,672    2.9
		      ============   ============    ===========   ====

NET PAID CIRCULATION:
Morning (w/USAT)         6,812,623      6,901,539        (88,916)  (1.3)
Evening                  1,163,678      1,201,250        (37,572)  (3.1)
		      ------------   ------------    -----------   ----
Total Daily              7,976,301      8,102,789       (126,488)  (1.6)
		      ============   ============    ===========   ====
Sunday                   6,771,266      6,956,037       (184,771)  (2.7)
		      ============   ============    ===========   ====


                      Year-to-Date through December 26, 2004
                                                                    %
                          2004           2003           CHANGE    CHANGE
REVENUES:
Advertising:
Local               $2,086,980,000 $1,969,230,000  $ 117,750,000    6.0
National               788,418,000    737,694,000     50,724,000    6.9
Classified           2,045,361,000  1,835,462,000    209,899,000   11.4
		    --------------  -------------  -------------   -----
Total Advertising   $4,920,759,000 $4,542,386,000  $ 378,373,000    8.3

Circulation          1,237,971,000  1,219,869,000     18,102,000    1.5
Other revenue          409,181,000    387,916,000     21,265,000    5.5
Television             824,202,000    730,126,000     94,076,000   12.9
		    --------------  -------------  -------------   -----
Total Revenue       $7,392,113,000 $6,880,297,000  $ 511,816,000    7.4
                    ==============  =============  =============   =====


VOLUME:
Newspaper Inches:
Local                   37,865,146     37,950,319        (85,173)  (0.2)
National                 4,168,509      4,068,182        100,327    2.5
Classified              59,848,558     58,908,751        939,807    1.6
		      ------------  -------------  -------------  -----
Total ROP              101,882,213    100,927,252        954,961    0.9
		      ============  =============  =============  =====
Preprint Distribution
  (in thousands)	11,706,761     11,347,133        359,628    3.2
		      ============  =============  =============  =====


NET PAID CIRCULATION:
Morning (w/USAT)         7,086,591      7,079,564          7,027    0.1
Evening                  1,206,792      1,237,862        (31,070)  (2.5)
		      ------------  -------------  -------------   -----
Total Daily              8,293,383      8,317,426        (24,043)  (0.3)
		      ============  =============  =============   =====

Sunday                   6,866,019      7,026,405       (160,386)  (2.3)
		      ============  =============  =============   =====

Note:  The operating results from the company's newspapers participating in
       joint operating agencies, and which are accounted for under the equity
       method of accounting, are reported as a single amount in other operating
       revenues.  Advertising linage statistics from these newspapers are not
       included above, however, circulation volume statistics for these newspapers
       are included above.


       The above revenue amounts and statistics have been restated to include
       all companies presently owned including Captivate (acquired in April
       2004), NurseWeek (acquired in February 2004), Clipper Magazine (acquired
       in late October 2003), SMG Publishing (acquired in April 2003) and 100%
       of the Texas-New Mexico Newspapers Partnership (established in March
       2003). Captivate is a national news and entertainment network that
       delivers programming and full motion video advertising through wireless
       digital video screens in the elevators of premier office towers. Captivate
       is included above in Broadcasting revenue. NurseWeek is a multimedia company
       with print publications focused on the recruitment, recognition and
       education of nurses. Clipper Magazine is a direct-mail advertising
       magazine company publishing over 345 individual market editions in 24
       states, which are mailed to over 100 million American homes annually.
       SMG Publishing consists of three Scottish newspapers: The Herald,
       Sunday Herald and Evening Times; eleven specialty consumer and
       business-to-business magazine titles; and an online advertising and
       content business.

       Newsquest (which includes SMG Publishing) is a regional newspaper
       publisher in the United Kingdom with more than 300 titles, including
       paid and unpaid daily and non-daily products. Circulation volume
       statistics for Newsquest's seventeen paid daily newspapers are included
       above. Circulation volume statistics for Sunday Herald are included
       above in the Sunday statistics. Circulation volume statistics for
       Newsquest's unpaid daily and non-daily publications are not reflected
       above. Advertising linage for Newsquest publications is not reflected
       above.

       Circulation volume and advertising linage statistics for non-daily
       products, including NurseWeek and Clipper Magazine are not reflected
       above.

       Certain online advertising revenues in 2003 have been reclassified to
       conform with the 2004 presentation. There was no effect on total
       revenues.


GANNETT CO., INC.
REVENUE &amp; STATISTICAL SUMMARY

                          4th Quarter 2004 (September 27 - December 26, 2004)

                                                                           %
                             2004            2003           CHANGE      CHANGE
REVENUES:
Advertising:
Local                 $   595,688,000 $   566,040,000  $   29,648,000     5.2
National                  219,362,000     219,383,000         (21,000)   (0.0)
Classified                484,626,000     445,926,000      38,700,000     8.7
                       --------------  --------------   -------------    ----
Total Advertising     $ 1,299,676,000 $ 1,231,349,000  $   68,327,000     5.5

Circulation               314,500,000     306,676,000       7,824,000     2.6
Other revenue             114,840,000     110,452,000       4,388,000     4.0
Broadcasting              233,395,000     199,550,000      33,845,000    17.0
                       --------------  --------------   -------------    ----
Total Revenue         $ 1,962,411,000 $ 1,848,027,000  $  114,384,000     6.2
                       ==============  ==============   =============    ====

VOLUME:
Newspaper Inches:
Local                      10,540,638      10,690,387        (149,749)   (1.4)
National                    1,104,333       1,134,637         (30,304)   (2.7)
Classified                 14,491,543      14,635,949        (144,406)   (1.0)
                       --------------  --------------   -------------    ----
Total ROP                  26,136,514      26,460,973        (324,459)   (1.2)
                       ==============  ==============   =============    ====
Preprint Distribution
    (in thousands)          3,508,229       3,419,079          89,150     2.6
                       ==============  ==============   =============    ====

Note:  The operating results from the company's newspapers participating in
       joint operating agencies, and which are accounted for under the equity
       method of accounting, are reported as a single amount in other operating
       revenues. Advertising linage statistics from these newspapers are not
       included above, however, circulation volume statistics for these
       newspapers are included above.

       The above revenue amounts and statistics have been restated to include
       all companies presently owned including Captivate (acquired in April
       2004), NurseWeek (acquired in February 2004), Clipper Magazine (acquired
       in late October 2003), SMG Publishing (acquired in April 2003) and 100%
       of the Texas-New Mexico Newspapers Partnership (established in March
       2003). Captivate is a national news and entertainment network that
       delivers programming and full motion video advertising through wireless
       digital video screens in the elevators of premier office towers. Captivate
       is included above in Broadcasting revenue. NurseWeek is a multimedia company
       with print publications focused on the recruitment, recognition and
       education of nurses. Clipper Magazine is a direct-mail advertising
       magazine company publishing over 345 individual market editions in 24
       states, which are mailed to over 100 million American homes annually.
       SMG Publishing consists of three Scottish newspapers: The Herald,
       Sunday Herald and Evening Times; eleven specialty consumer and
       business-to-business magazine titles; and an online advertising and
       content business.

       Newsquest (which includes SMG Publishing) is a regional newspaper
       publisher in the United Kingdom with more than 300 titles, including
       paid and unpaid daily and non-daily products. Circulation volume
       statistics for Newsquest's seventeen paid daily newspapers are included
       above. Circulation volume statistics for Sunday Herald are included
       above in the Sunday statistics. Circulation volume statistics for
       Newsquest's unpaid daily and non-daily publications are not reflected
       above. Advertising linage for Newsquest publications is not reflected
       above.

       Circulation volume and advertising linage statistics for non-daily
       products, including NurseWeek and Clipper Magazine are not reflected
       above.

       Certain online advertising revenues in 2003 have been reclassified to
       conform with the 2004 presentation. There was no effect on total
       revenues.</pre>
<pre>&nbsp;</pre>

<p align="center"><b>Gannett Online Internet Audience</b><br>
<b>December 2004</b><br>
<br>
</p>
<p><b>Nielsen//NetRatings</b></p>
<p>Home/Work Panel Combined</p>
<table border="0" width="100%">
  <tr>
    <td width="33%"></td>
    <td width="33%">
      <p align="center"><u>Unique Visitors Per Month</u></td>
    <td width="34%">
      <p style="word-spacing: 0; margin-top: 0; margin-bottom: 0" align="center">Percentage
      Reach of </p>
      <p style="word-spacing: 0; margin-top: 0; margin-bottom: 0" align="center"><u>Internet
      Audience</u></td>
  </tr>
  <tr>
    <td width="33%">Gannett Online</td>
    <td width="33%">
      <p align="center">18,105,000</td>
    <td width="34%">
      <p align="center">12.1%</td>
  </tr>
  <tr>
    <td width="33%"></td>
    <td width="33%"></td>
    <td width="34%"></td>
  </tr>
</table>

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