Postmedia Reports a $225M Q2 Loss, Due in Part to Impairment, Falling Ad Revenue

The Canadian newspaper chain Postmedia Network reported Q2 earnings today, reporting a $225.1 million loss in the quarter, against a $58.2 million in the same quarter last year. The loss was made larger by a $187.0 million non-cash impairment charge.

Total revenue grew thanks to its Sun acquisition last year, but revenue of existing properties fell over 13 percent. In fact, revenue is falling all over the place: print advertising revenue fell $30.3 million, or 17.9 percent; print circulation revenue fell $6.8 million, or 7.3 percent; and even digital revenue decreased $2.6 million, or 5.7 percent.

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