Skip to main content

Some of Postmedia's newspapers are displayed in Ottawa on January 8, 2010.

Adrian Wyld/THE CANADIAN PRESS

Newspaper and multimedia company Postmedia Network has sharply reduced its fourth-quarter losses despite a decline in revenue blamed on lower advertising and print circulation income.

The publisher of the National Post, formerly part of Canwest, reported a loss of $2.3-million in the three months ended Aug. 31.

That compared with a net loss of $44.6-million between July 13 and Aug. 31, 2010, the most closely comparable period.

Story continues below advertisement

Revenue was $230.3-million, down $11-million relative to the prior year.

The company said the decline was primarily due to weaker print advertising revenue, which was down 5.3-per cent, or $8.2-million. Circulation revenue was off by 2.5 per cent, or $1.5-million, and other revenues declined $2.9-million due to the loss of a commercial printing contract in the first quarter.

The losses were partially offset by growth in digital revenue, which increased 8.2 per cent or $1.7-million relative to the same period in the prior year.

Postmedia also owns the Calgary Herald, Montreal Gazette and Ottawa Citizen.

Report an error
Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at privacy@globeandmail.com.