In the latest bit of bad news, Gannett Co., publisher of USA Today and a host of city newspapers, announced that total revenues tumbled 8.6% from $767 million in the third quarter of 2014 to $701 million in the third quarter of 2015 -- its first full quarter as a standalone company following the spinoff of its broadcast TV properties in June of this year.

The drop was due to declines in both advertising and circulation revenue. Excluding revenues associated with various divested businesses from the previous-year comparison, revenues were still down 4.5%.

Gannett’s total advertising revenues fell 13.1% from $442 million to $384 million, with retail ads down 8.1%, national down 17.2%, and classifieds down 17.8%. Digital advertising revenues rose 3.9% to $159.9 million, when divested properties, including CareerBuilder, are excluded.

Circulation revenues fell 3.4% from $275 million to $265 million. The decline in circulation revenues came despite substantial growth in digital-only subscriptions, which increased 37% over the previous year, to just over 100,000. Overall Gannett properties attracted over 100 million unique visitors in the third quarter, or well over a third of the U.S. online population.

Gannett president and CEO Bob Dickey said that mobile advertising increased 22%, but conceded that it is still challenged by monetization, as revenue “is still not keeping up with the great growth we’re seeing on the audience side.”

As noted, Gannett has plenty of company in the newspaper industry when it comes to weak results.

Previously, McClatchy Co. announced that total revenues fell 7% from $273 million in the third quarter of 2014 to $258 million in the third quarter of 2015, mostly due to an 11.8% drop in advertising revenues. McClatchy’s circulation revenues slipped 2.2% to $89 million.