We all know the Gannett (NYSE: GCI) company. It is a newspaper publisher that puts out the excellent USA Today, among others. As excellent as the USA Today might be, Gannett's stock is anything but. Gannett's Q3 earnings came in at $0.76 per share. The market was looking for a penny more. In addition, publishing ad revenue fell 18% while broadcast revenue posted an anemic gain of approximately 4%.

Gannett is positioned only for further financial pressure. The newspaper industry has had a tough time of it for years, trying to adjust to a digital age. Content on print just isn't seen in the same light as it was many years ago. Trying to get readers of newspapers to migrate to online counterparts can be very difficult. Once you're on the internet, there are a whole host of portals through which content can be filtered and accessed. Even if you were a devoted reader of USA Today before coming online, it is entirely possible that you'd ditch the brand for some other source of news, whether it be Yahoo! (NASDAQ: YHOO) or Time Warner's (NYSE: TWX) AOL. Sure, you might still find content at those sites from Gannett, but it nevertheless is a whole new competitive ballgame. And let's face it, the new generation of web-savvy youth consider print antiquated and perhaps even useless, harsh as that is to say.

Competition for ads is only going to become more intense. I'd imagine that revenues will most likely continue to be challenged for Gannett as advertisers pull back in the face of the economic storm. The 52-week high on the stock is $42.50. The 52-week low is $8.49. Friday's closing price was $9.47. No, it isn't a buy. And what's that yield I see? Are you kidding me? Almost 17%! In this case, the high yield is telling you to run far, far away from the shares. If I wanted exposure to print, I'd much rather go with a company that has a portfolio which includes better assets, such as News Corp. (NYSE: NWS). Print will always be with us. I enjoy print. But its growth prospects are questionable until new models are realized.

Disclosure: I don't own any company mentioned; positions can change at any time.