The following major media companies reported first...

The following major media companies reported first quarter earnings. Gannett Co. said its income rose 41% to $73.9 million, compared to $52.5 million for the year-ago period. The Washington-based company’s holdings include 90 daily newspapers, including USA Today, and several radio and TV stations. The company attributed its performance to increased newspaper circulation, advertising revenue and a one-time gain on the sale of its interest in Cowles Media. Knight Ridder Inc. said its income rose 18% to $33.8 million for its first quarter, compared to $28.6 million for the same period last year. The Miami-based newspaper publisher said a lower tax rate and cost-control measures contributed to the gain along with good revenue growth in its broadcast and business information services divisions. Media General Inc.’s income rose 42% to $11.5 million, compared to $8.1 million for the year-ago period, the Richmond, Va.-based diversified communications concern reported. The company said strong sales in its newsprint division and the success of a five-year $420-million capital investment program contributed significantly to the gain. The Tribune Co.’s income increased 93% to $32.2 million, compared to $16.7 million in the year-ago period. The Chicago-based media company, which is engaged in newspaper publishing, newsprint manufacturing, broadcasting and entertainment production, reported significant gains in its newspaper group, particularly the New York Daily News, and its newsprint division.