Gannett’s stock fell under $6 per share again after today’s report that profits fell by 36% in the last quarter of 2008, according to Marketwatch.com.

In addition, the company faces further writedowns to account for the falling market value of its newspaper business.

And, to make things worse, the company pension plans are now facing a squeeze.

Reflecting the situation faced by other U.S. companies at a time when stocks have plummeted so dramatically over the past several months, (CFO) Martore said Gannett’s pension plans were underfunded by about $575 million to $595 million. The pensions can be funded over the next seven years, she added.

You can check out other recent news stories about Gannett (GCI) at Yahoo Finance and at the Gannett Blog.