By: E&P Staff Benefiting from the acquisition of 21st Century Newspapers, the Journal Register Co. reported total revenue for Q3 was up 22.1%, or $123.1 million compared with $100.8 million, over the same period last year. On a same-store basis, total revenue grew 1.6% or $102.4 million.
Total advertising revenue for the same period increased 27.5%, or $93.7 million. The company said that total advertising revenue for 21st Century for the month of September grew 0.3% -- the first year-over-year increase since February 2003. The Oakland Press and The Macomb Daily, two of its largest papers in Michigan, drove the growth for the group.
The company also bucked trends with retail advertising, experiencing growth in the category. On a same-store basis, retail advertising was up 3.2%, "the company's best quarterly retail advertising revenue performance in over four years," according to a statement. Retail grew on the strength of financial, telecommunications, and home improvement categories.
On a same-store basis, classified revenue increased 2.7%. Real estate advertising was up 14.6% and help-wanted advertising grew 4.1%.
National advertising, which accounts for only 5% of the company's total advertising revenue, increased 16.1% on a same-store basis.
Circulation revenues rose $25 million compared with $22.9 million. On a same-store basis, however, circulation revenue was down 2%.
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