TEGNA (TGNA) 10-Q 2003 Q3 Quarterly report

Exhibit 11

CALCULATION OF EARNINGS PER SHARE
Gannett Co., Inc. and Subsidiaries
Unaudited, in thousands of dollars (except per share amounts)

		Thirteen weeks ended
		Sept. 28, 2003		Sept. 29, 2002
Basic earnings:
	Net income	$	279,032	$	265,636
	Weighted average number of common shares outstanding		269,815		267,056
	Earnings per share - basic	$	1.03	$	0.99
Diluted earnings:
	Net income	$	279,032	$	265,636
	Weighted average number of common shares outstanding		269,815		267,056
	Dilutive effect of outstanding stock options and stock incentive rights		2,359		2,250
	Weighted average number of shares outstanding, as adjusted		272,174		269,306
	Earnings per share - diluted	$	1.03	$	0.99

		Thirty-nine weeks ended
		Sept. 28, 2003		Sept. 29, 2002
Basic earnings:
	Net income	$	853,175	$	813,122
	Weighted average number of common shares outstanding		268,947		266,674
	Earnings per share - basic	$	3.17	$	3.05
Diluted earnings:
	Net income	$	853,175	$	813,122
	Weighted average number of common shares outstanding		268,947		266,674
	Dilutive effect of outstanding stock options and stock incentive rights		2,167		2,431
	Weighted average number of shares outstanding, as adjusted		271,114		269,105
	Earnings per share - diluted	$	3.15	$	3.02