Basis of presentation

9 Months Ended

Sep. 25, 2011

Basis of presentation

NOTE 1 – Basis of presentation

The accompanying unaudited Condensed Consolidated Financial Statements of Gannett Co., Inc. (the Company) have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes, which are normally included in the Form 10-K and annual report to shareholders. In the opinion of the Company, the financial statements reflect all adjustments, which are of a normal recurring nature, that are necessary for a fair presentation of results for the interim periods presented.

During the second quarter of 2010, the Company completed the sale of The Honolulu Advertiser as well as a small directory publishing operation in Michigan. Income from continuing operations for the 2010 year-to-date period exclude the disposition gains and operating results from these former properties which have been reclassified to discontinued operations. Amounts applicable to discontinued operations, which have been reclassified in the Statements of Income for the thirty-nine week period ended September 26, 2010, are as follows:

(in thousands of dollars)	Thirty-nine Weeks Ended September 26, 2010
Revenues	$	32,710
Pretax loss	$	(758	)
Net loss	$	(322	)
Gains (after tax)	$	21,195