The absence of these events combined with softer ad demand in the auto category unfavorably impacted our broadcasting segment results.

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Looking ahead, the fourth quarter will also be affected by comparisons to the almost $50 million of politically-related ad demand from last year's fall elections and a continuing soft advertising outlook in the U.K.,

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In our newspaper segment we reported advertising gains at our U.S. community newspapers, particularly in classified employment and real estate while auto remained soft.

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Two daily newspapers, competing editorially in the city of Detroit. That's the bottom line of today's transactions. Detroit is the winner here, and Gannett is proud we were able to make this happen.

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Shareholders have made clear they like this change, and we are glad to oblige. By amending its bylaws, Gannett is again demonstrating our strong belief in good corporate governance.

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Innovation is the future of Gannett, and Roger has proven his ability to encourage new ideas and make them business-ready. He is the right person for this new and exciting role. The Center for Design and Innovation is a key part of our strategy for growing Gannett and stimulating innovation throughout the company. As a team, our top management is excited to embrace innovation.

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