Postmedia Network reported their quarter end results as of August 31, 2012 late last week which unfortunately came with a $28.4 million net loss, compared to a $0.4 million in the same period last year. Part of the challenge for the struggling newspaper chain is a a non-cash loss on a debt repayment of $9.2 million.
Net loss in the year ended August 31, 2012 was $23.2 million compared to a net loss of $9.6 million in the prior year, so they are still bleeding cash, but have sold a number of low-revenue papers over the year.
Postmedia also launched a paywall service a few months ago which should help to drive digital revenue up in the quarters to come.
[adrotate banner=”6″]
RT @daveforde: Earnings: Postmedia Reports $28.4 Million Fourth Quarter Loss https://t.co/pAl80skw