Another big drop in revenue for publisher of Vancouver Sun, Province newspapers

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VANCOUVER (NEWS1130) – The alarming drop in revenue at some of Canada’s biggest newspapers continues.

Postmedia Network Canada, with papers including the Vancouver Sun and Province, reports its quarterly print advertising revenue fell about 20 per cent of $23 million, “with the declines occurring across all categories, including national, local and insert advertising.”

Revenue from sales of newspapers fell, despite price increases. Digital revenue rose by three per cent to just $700,000 in the quarter to the end of November.

Postmedia continues to report progress on reducing its costs, with adjusted expenses down seven per cent or $10 million from the year-ago quarter.

Its net loss was $10.3 million, down $1.5 million, while operating income rose to $18 million, mainly due to lower restructuring costs.

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