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Gannett, Hearst-Argyle Optimistic for 2004

Gannett Co. Inc. told analysts and investors at the UBS Warburg LLC media conference Wednesday that TV revenues are expected to climb on a percentage basis into the mid-teens in 2004, including Olympic Games and political spending.

Also at the conference, Hearst-Argyle Television Inc. executives said they were "comfortable" with consensus estimates of Wall Street analysts for full-year 2003 cash flow of $270.5 million, and net earnings of $86.5 million.

Company CEO David Barrett indicated that he was optimistic 2004 would be a good year, but stopped short of full-year guidance for the year. Instead, the company’s policy is to give guidance quarterly when it releases the previous quarter’s results.