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For immediate release
4/15/96

First Quarter 1996 Earnings

ARLINGTON, Va. — Gannett earned 64 cents in the first quarter of 1996, a
gain of 3 percent over 1995 earnings of 62 cents per share. Results include
the operations of Multimedia, Inc., a South Carolina-based media company
purchased in December 1995.

Operating revenues gained 21 percent to $1,104,160,000, from $913,820,000 in
the year-earlier quarter. If Gannett had owned the same complement of
properties in both quarters, revenues would have increased 3 percent.
Operating cash flow advanced to $275,323,000 from $207,821,000 in the prior
year, reflecting contributions from the new properties and a healthy
television environment, particularly for NBC-affiliated stations. Operating
income was 26 percent higher at $197,911,000. In 1995, operating income was
$157,167,000.

Net income gained 4 percent to $89,350,000, compared to $86,206,000 in
1995’s first quarter. Approximately 140,680,000 common shares were
outstanding at the end of the quarter, compared to 140,011,000 in 1995.

In a statement, the company said that newly-acquired properties boosted
operating cash flow, but incremental interest, taxes and goodwill
amortization associated with the Multimedia transaction tempered their
contribution to earnings per share. Operating results were mixed.
Broadcasting earnings soared, but newspaper earnings declined, reflecting
the impact of higher newsprint costs and a loss at The Detroit News. In
Detroit, six unions have been on strike since July 13, but have failed to
stop publication.

Operating cash flow from newspapers was even with last year, while revenues
gained 8 percent. If the same group of newspapers had been held in both
periods, revenues would have gained 3 percent, including a 2 percent gain in
pro forma advertising revenues. Gains in classified and national advertising
revenue continued in the first quarter. Pro forma advertising volume
declined 2 percent, reflecting lower local ad volume.

At USA TODAY, paid advertising pages jumped 23 percent to 1,080, compared to
877 in the 1995 quarter. Advertising revenues grew 26 percent.

Broadcast cash flow jumped 97 percent in the quarter to $65,737,000 as
revenues gained 46 percent to $141,688,000. Pro forma revenues increased 8
percent, reflecting strong demand for television advertising during Super
Bowl XXX, which was broadcast on Gannett’s nine NBC-affiliated television
stations in January. Radio revenues advanced 1 percent in the quarter.

Cable revenues were $47,208,000 in the first quarter of 1996, and operating
cash flow was $23,963,000. Basic subscribers totaled 460,600 at the end of
the quarter, equal to 62 percent of homes passed. Pay units numbered 333,800
at March 31, 1995.

Revenues from other businesses increased 66 percent to $94,892,000, and
operating cash flow reached $11,396,000, reflecting results from the recently
acquired entertainment and alarm security businesses.

Gannett is a nationwide news and information company that publishes 92
newspaper, including USA TODAY, and USA WEEKEND, a newspaper magazine.
Gannett also produces entertainment programming, operates 15 television
stations, 13 radio stations, cable television systems in five states,
security systems and the largest outdoor advertising company in North
America.


  CONSOLIDATED STATEMENT OF INCOME
  Gannett Co., Inc. and Subsidiaries
  (In thousands)
                                             Quarter ended            % Inc
                                      Mar. 31, 1996    Mar. 26, 1995  (Dec)

  Net Operating Revenues:
  Newspaper advertising                $   556,885     $ 516,742        7.8
  Newspaper circulation                    229,417       211,964        8.2
  Broadcasting                             141,688        96,983       46.1
  Cable                                     47,208             0        0.0
  Other                                    128,962        88,131       46.3
                                        ----------     ---------       ----
  Total                                  1,104,160       913,820       20.8
                                        ==========     =========       ====


  Operating Expenses:
  Cost of sales and operating expenses,
      exclusive of depreciation            641,209       534,222       20.0
  Selling, general and administrative
      expenses, exclusive of depreciation  187,628       171,777        9.2
  Depreciation                              53,135        39,259       35.3
  Amortization of intangible assets         24,277        11,395      113.0
                                       -----------     ---------      -----
  Total                                    906,249       756,653       19.8
                                       -----------     ---------      -----
  Operating income                         197,911       157,167       25.9
                                       -----------     ---------      -----
  Non-operating income (expense):
  Interest expense                         (39,528)      (11,732)     236.9
  Other                                     (1,583)         (529)     199.2
                                        ----------      --------      -----
  Total                                    (41,111)      (12,261)     235.3
                                        ----------      --------      -----
  Income before income taxes               156,800       144,906        8.2
  Provision for income taxes                67,450        58,700       14.9
                                        ----------      --------      -----
  Net income                           $    89,350     $  86,206        3.6
                                        ==========      ========      =====

  Net income per share                       $0.64         $0.62        3.2
                                        ==========     =========      =====
  Dividends per share                        $0.35         $0.34        2.9
                                        ==========     =========      =====


GANNETT CO., INC.
BUSINESS SEGMENT INFORMATION
(In thousands)
                                            Quarter ended
                                    Mar. 31, 1996   Mar. 26, 1995       % CHG
                                    -------------   -------------      ------
OPERATING REVENUES
------------------
NEWSPAPER PUBLISHING                  $  820,372      $  759,636          8.0
BROADCASTING                             141,688          96,983         46.1
CABLE                                     47,208               0          0.0
OTHER BUSINESSES                          94,892          57,201         65.9
                                       ---------       ---------        -----
                                      $1,104,160      $  913,820         20.8
                                       =========       =========        =====
OPERATING INCOME (NET OF DEPRECIATION AND AMORTIZATION)
------------------------------------------------------
NEWSPAPER PUBLISHING                  $  147,551      $  150,856         (2.2)
BROADCASTING                              50,039          26,240         90.7
CABLE                                     10,909               0          0.0
OTHER BUSINESSES                           5,830          (2,943)       298.1
CORPORATE                                (16,418)        (16,986)         3.3
                                       ---------       ---------       ------
                                      $  197,911      $  157,167         25.9
                                       =========       =========       ======
DEPRECIATION & AMORTIZATION
---------------------------
NEWSPAPER PUBLISHING                  $   40,538      $   36,450         11.2
BROADCASTING                              15,698           7,064        122.2
CABLE                                     13,054               0          0.0
OTHER BUSINESSES                           5,566           4,479         24.3
CORPORATE                                  2,556           2,661         (3.9)
                                       ---------       ---------        -----
                                      $   77,412      $   50,654         52.8
                                       =========       =========        =====
OPERATING CASH FLOW
-------------------
NEWSPAPER PUBLISHING                  $  188,089      $  187,306          0.4
BROADCASTING                              65,737          33,304         97.4
CABLE                                     23,963               0          0.0
OTHER BUSINESSES                          11,396           1,536        641.9
CORPORATE                                (13,862)        (14,325)         3.2
                                       ---------       ---------        -----
                                      $  275,323      $  207,821         32.5
                                       =========       =========        =====

NOTES:

(1) For financial reporting purposes, at the end of 1995, the Company
established four separate segments: newspapers; broadcasting (television and
radio); cable television; and a segment for all other business operations.
Previously, the Company’s operations were reported in three segments:
newspapers; broadcasting; and outdoor advertising. Upon the completion of
the Multimedia acquisition, the Company established a separate business
segment for the acquired cable television division. At the same time, the
Company elected to group its outdoor advertising business along with the alarm
security and entertainment businesses acquired from Multimedia in
its fourth “Other Businesses” reporting segment. Additionally, certain
businesses previously reported in the newspaper segment are now reflected in
the “Other Businesses” segment. Prior-year segment data has been restated to
reflect this reporting change.

(2) Operating Cash Flow represents operating income for each of the Company’s
business segments plus related depreciation and amortization expense.