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Business Description
Gannett Co., Inc. is a diversified information company that operates primarily in the United States and the United Kingdom. Approximately 88% of its revenues are from domestic operations. In addition to operations in the United Kingdom, Gannett has limited foreign operations in certain European and Asian markets. The Company has two principal business segments: newspaper publishing and broadcasting (television). At the end of 2001, the Company operated 110 daily newspapers, with a total average daily circulation of approximately 8.3 million in the United States and the United Kingdom, including USA TODAY. On December 30, 2001, the Company's television division included 22 television stations in markets with a total of more than 18.6 million households.

Financial Information
GCI publishes newspapers, operates broadcasting stations and is engaged in marketing, commercial printing, a newswire service and data services. For the 26 weeks ended 6/30/02, revenues fell 2% to $3.15 billion. Net income rose 34% to $547.5 million. Revenues reflect lower newspaper classified ad revenues and continued diminished demand for travel-related advertising. Earnings were offset by employee reductions and the absence of goodwill amortization.