GateHouse Media Loses $4.9M In Q3
GateHouse Media Inc., the Fairport, N.Y., parent company of the MetroWest Daily News and several other regional publications, lost $4.9 million in the third quarter on revenue that declined nearly 5 percent.
The company, which publishes 87 daily newspapers, reported revenue of $137.9 million compared to $144.8 million a year prior.
Compared to the $4.9-million loss, the company made a profit of $2 million a year ago.
GateHouse said advertising revenue was down 3.7 percent. Local retail and classified advertising revenues were down 4.2 percent and 5.2 percent, respectively, while commercial print revenue dropped 21.2 percent.
Operating income for the quarter was $12 million, a $2-million decline.
The company said it was encouraged that advertising revenue declines "were down to only 2.7 percent."
GateHouse's online revenue increased 17.6 percent.
WBJ Web Partners
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