via sda comments:
So Postmedia Publications (Ed Journal, Cal Herald, Star P, Leader P etc) lost another $32 million last quarter. Following a $120 million loss previous quarter (included a BIG writedown). Not only was print ad revenue off 10% but subscriber revenue was down but even digital revenue was off 2%. My prediction is they will not wait for the asteroid and simply cease business at some point within the next 18 months.
'Environment challenging,' says CEO Paul Godfrey
Postmedia Network Canada Corp. reported a fourth-quarter net loss of $35.8 million, down from a $28.4-million loss a year earlier, as revenues from print advertising and digital properties declined at a faster pace than cost reductions.
The owner of Canada's largest chain of English-language daily newspapers, including the Ottawa Citizen, had a 10.9 per cent drop in quarterly revenue, down $20.8 million to $169.3 million in the quarter ended Aug. 31, as the decline in print advertising continued to hamper the publishing industry.
"The revenue environment remains challenging," president and chief executive Paul Godfrey said in an analyst and investor conference call Thursday. "This is reflected in our operating results."
Print advertising revenue for Postmedia dropped 16.2 per cent, but total digital revenue also dropped, sliding 2.4 per cent compared with the year earlier period.
more
Ad revenue cited as Postmedia posts fourth-quarter loss
Just leaves Torstar and Quebecor
So Postmedia Publications (Ed Journal, Cal Herald, Star P, Leader P etc) lost another $32 million last quarter. Following a $120 million loss previous quarter (included a BIG writedown). Not only was print ad revenue off 10% but subscriber revenue was down but even digital revenue was off 2%. My prediction is they will not wait for the asteroid and simply cease business at some point within the next 18 months.
'Environment challenging,' says CEO Paul Godfrey
Postmedia Network Canada Corp. reported a fourth-quarter net loss of $35.8 million, down from a $28.4-million loss a year earlier, as revenues from print advertising and digital properties declined at a faster pace than cost reductions.
The owner of Canada's largest chain of English-language daily newspapers, including the Ottawa Citizen, had a 10.9 per cent drop in quarterly revenue, down $20.8 million to $169.3 million in the quarter ended Aug. 31, as the decline in print advertising continued to hamper the publishing industry.
"The revenue environment remains challenging," president and chief executive Paul Godfrey said in an analyst and investor conference call Thursday. "This is reflected in our operating results."
Print advertising revenue for Postmedia dropped 16.2 per cent, but total digital revenue also dropped, sliding 2.4 per cent compared with the year earlier period.
more
Ad revenue cited as Postmedia posts fourth-quarter loss
Just leaves Torstar and Quebecor