10-Q Watch: Gannett Acquires Healthcare Education Site Pearls Review; Digital Now Separate Segment
This story was written by Rafat Ali.
Gannett (NYSE: GCI), which reported its Q308 earnings late last month, has filed its 10-Q and discloses a new online acquisition: it has acquired Pearls Review, an online nursing certification and continuing education review site. No financial details were disclosed, but the site is now part of the Gannett Healthcare Group (I had no idea such a group existed within Gannett...the group runs Nurse.com). Pearl has a series of online courses in various sub-sectors of nursing profession, and is based in St. Petersburg, FL.
Meanwhile, Gannett has finally heeded to our call for more digital/interactive revenues disclosure, and for reporting purposes has formed a new digital segment and now separate digital revenues line in its income statement. This includes all revenues from CareerBuilder and ShopLocal beginning with the full consolidation of these businesses in Q308, and revenues from PointRoll, Schedule Star and Planet Discover. Revenues from PointRoll, Schedule Star and Planet Discover had previously been reported within the publishing segment. Part of the reason is also that it now owns 100 percent of ShopLocal and now has majority in CareerBuilder. Digital revenues increased from $17.2 million to $77.6 million for Q3 and increased from $46.6 million to $111.5 million year-to-date.
What it still doesn't have separate are digital/online revenues from all of Gannett papers and broadcasting stations, which continue to be reported in the publishing and broadcast segments..The broadcasting online/digital revenues rose 15 percent for the quarter and year-to-date period.
By Rafat Ali