Tue - 21.11.2017


US newspaper companies aren’t off to a great start this fiscal year, with both Lee Enterprises and Gannett Co. reporting large quarterly losses.

Lee revealed that the company lost $26.6 million for the second fiscal quarter ending March 25, or the equivalent of 54 cents lost per share, The Washington Post reported. Last year at this time, Lee reported a loss of $1.3 million, or 3 cents per share.

The vast losses can be contributed to refinancing and reorganization costs, according to a press release. Taking those costs out of the equation, the adjusted loss was 3 cents per share, the press release said.

Operating revenue decreased by 3.6% to $172.3 million, the press release said. While combined print and digital advertising revenue fell 5.3%, digital ad revenue rose by 9.9%.


Gianna Walton


2012-04-18 12:24

Postmedia Network Inc, which bought Canwest's newspaper division in July for US$1.1 billion, reported a 23 percent increase in the fourth quarter of the fiscal year that ended up on August 31, the Calgary Herald revealed Monday. Revenue totalled C$241.3 million, 1.5 percent higher than the C$237.7 million reported by Canwest in 2009.

The growth was led by a 7 percent increase in digital revenue and a 2 percent in print advertising, the company explained in a press release. However, it reported losses of C$44.6 millions.

Postmedia CEO Paul Godfrey said the company will remain privately owned until the half of 2011. Photo: the National Post

The results included both Canwest and Postmedia's financials, as the media group bought the 11 national dailies and 35 community newspapers six weeks before the end of the fiscal year, The Globe and Mail pointed out.


Clara Mart


2010-11-17 21:48

City A.M., London's free daily newspaper, reported profits for the first time in 18 months due to a 39 percent increase in advertising revenue during the first six months of the year, Marketing Week revealed today.

The newspaper's made a operating profit of £546,000 compared with a £302,000 operating loss during the same period in 2008, The Guardian pointed out. Overall, the company reported pre-tax profits of £423,000 while last year it had £419,000 of pre-tax loss.

"After 18 difficult months for all media we are now back on the growth rate we had before the financial crisis," said City AM chief executive Jens Torpe, Press Gazette quoted. "We are confident we can maintain this positive trend and are therefore increasing the circulation this autumn by adding some 30 to 40 new stations in the commuter belt."

The company also revealed that in 2009 total losses reached £773,000, and that it still has to regained £8m million from total net investment and losses. Currently, City A.M. had a daily circulation of 100,000 copies.


Clara Mart


2010-10-06 23:40

The New York Times Co. said yesterday that its revenue is expected to decline by two or three percent due to loss of advertising in its print publications, MediaGuardian revealed.

Although the company forecast a growth in digital ad sales, these gains will not be enough to offset the print advertising losses. Furthermore, it expecting a revenue decline of 5 percent in subscription and newsstand sales, The Associated Press explained.

Photo source:
Chief Executive Janet Robinson recognised that the price increases of The New York Times and the Boston Globe had affected the company. According to the Audit Bureau of Circulations, the weekly circulation of The New York Times went down in March by 8.5 percent, The Wall Street Jounal pointed out.

The publisher, which also owns the International Herald Tribune and other 15 regional newspapers, was initially expecting revenue of US$563.8 million. After the announcement, the company shares fell 52 cents to $7.45, the AP reported.


Clara Mart


2010-09-23 23:07

A.H. Belo Corp., the publisher of The Dallas Morning News, The Providence Journal and many others, Monday announced its second-quarter loss was smaller year-to-year, but its ad revenue was still in a decline, the Associated Press reported.

The company's net loss in the second quarter totaled $171,000, or 1 cent a share, much less than that of $7.1 million, or 34 cents a share, one year ago.

Revenue was down 5 percent to $121.6 million from $127.5 million year-over-year.

Advertising, which is the main source of revenue for the company, fell 12 percent to $77 million. Circulation revenue grew 7 percent to $35.5 million, partly due to the price changes in Dallas, AP reported.

The digital revenue was down 4.3 percent to $9.3 million, while non-classified digital revenue rose 2.5 percent to $4.2 million, Media Post reported.

"We continue to manage the business to maximise operating cash flow over the long-term and monetize real estate in transactions that create value for shareholders at appropriate prices," according to the company's chairman and CEO Robert Decherd.


Erina Lin


2010-07-27 19:08

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