Canadian Magazine Industry News
29 April 2009,     TORONTO
Rogers Media operating profit down 73% in first quarter
A soft advertising market was the main cause of the 73% first quarter drop in operating profit at Rogers Media, the company said yesterday. The media division of the communications giant includes the 70 consumer and trade magazines of Rogers Publishing, as well as Rogers Broadcasting, the Toronto Blue Jays and the Rogers Centre.

For the first three months of 2009, operating profits for the media divison were $6 million, compared to $22 million for the same period in 2008. Operating revenues also dipped 7%, from $307 million to $284 million.

Overall, Rogers Communications Inc. saw its net earnings decline by 10%, from $309 million to $344 million. Revenues, however, were up by 5%, mostly due to growth in the company's wireless and cable divisions.

Most of Rogers' consumer magazines took big hits in advertising in the first quarter, according to data from Leading National Advertisers Canada. Run-of-press ad pages were down at Canadian Business (-45.6%), Loulou (English) (-44.6%), Loulou (French) (-41%) Moneysense (-35.2%), Maclean's (-29.8%), L'actualité (-28.5%), Flare (-26%), Chatelaine (-21.3%), Châtelaine (-12.7%), Today's Parent (-11%), and Profit (-4.8%). Two LNA-tracked Rogers magazines did experience significant growth in the quarter: Glow (51%) and Hello! Canada (42.4%).
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