JMG Journal Media Grp., Inc.

Gannett Co. said its fourth-quarter revenue fell 9.7% on continued declines in the media company's advertising sales and circulation revenue.

For the three-month period ended Dec. 27, revenue decreased to $739.3 million from $818.9 million a year earlier. Analysts polled by Thomson Reuters expected $756 million.

Advertising revenue dropped 13%, and circulation revenue declined 7.9%.

Excluding impacts of the its planned acquisition of Journal Media Group Inc. Gannett expects its revenue trends in 2016 to improve over 2015, driven largely by growth in digital, Chief Executive Robert Dickey said in prepared remarks Wednesday.

The company expects 2016 advertising revenue to decline between 5% and 7%, and circulation revenue to decrease between 2% and 4%, Mr. Dickey stated.

Gannett's publishing properties—which include USA Today and mostly medium- and small-market daily newspapers in the U.S.—completed their spinoff in late June, with the broadcasting and digital properties remaining as a separate company now called Tegna Inc.

Gannett is in the process of acquiring Journal Media, the owner of the Milwaukee Journal Sentinel and other newspapers, in a $280 million deal. Journal Media shareholders are set to vote on the deal March 1.

The Wall Street Journal recently reported that Gannett, prompted by the e-commerce boom, is exploring the parcel-delivery business as it examines how to make the most of its fleet of paper carriers and delivery trucks.

Over all, Gannett reported a profit of $20.4 million, or 17 cents a share, down from $66.9 million, or 58 cents a share, a year earlier. Excluding facility consolidation and asset write-downs, severance-related charges and other items, per-share earnings fell to 53 cents from 84 cents. Analysts expected per-share profit of 53 cents.

Write to Tess Stynes at tess.stynes@wsj.com

(END) Dow Jones Newswires

February 17, 2016 09:45 ET (14:45 GMT)

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