PROFITS: McPaper Has Made It

"McPaper Has Made It"

When Gannett President John Curley wanted to alert Chairman Allen Neuharth that their five-year-old national newspaper (circ. 1.5 million) had broken into the black, the telegram was as short and peppy as any USA Today headline: MCPAPER HAS MADE IT. Thanks mainly to a 45% increase in ad revenues over last year, USA Today converted a nearly $900,000 loss in April to a $1.09 million profit in May. That was a pittance compared with the losses of nearly $400 million that Gannett is reported to have suffered since USA Today hit the newsstands in September 1982, but the first earnings were...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!