<p>Companies that sell advertising have begun releasing their earnings reports for the latest quarter. Here are highlights of recent quarterly earnings reports from selected Internet and media companies and what they say about the state of spending on advertising.</p><p>_ Oct. 15: Gannett Co. reports higher net income and revenue, helped by strong gains in political and Olympics-related advertising.</p><p>_ Oct. 16: Advertising and marketing company Omnicom Group Inc. reports nearly flat earnings and revenue compared with a year earlier, as U.S. revenue grew but international revenue declined.</p><p>_ Oct. 17: Television and digital media company Media General Inc. says its third-quarter net loss widened because of higher expenses, but revenue grew sharply thanks to an increase in political advertising and the Olympics.</p><p><a href="http://investing.businessweek.com/research/stocks/news/article.asp?docKey=600-201211070907APDIGITLFINANCE__US_Earns_Advertising_-1&params=timestamp%7C%7C11/07/2012%209:07%20AM%20ET%7C%7Cheadline%7C%7CWhat%20earnings%20reports%20have%20revealed%20about%20ads%7C%7CdocSource%7C%7CAP%20Digital%7C%7Cprovider%7C%7CACQUIREMEDIA%7C%7Cbridgesymbol%7C%7CUS;TWX&ticker=TWX">Keep reading...</a></p>