Canadian Magazine Industry News
29 July 2009,     TORONTO
Rogers Media profits and revenues continue to slump
Second quarter operating revenues for Rogers Media were down 11%, e company announced today, from $409 million in 2008 to $366 million for the same three-month period this year. Adjusted operating profits also slipped 29%, from $52 million to $37 million. The company attributed the losses to ongoing weakness advertising market.

Rogers Media includes the company's consumer and trade magazines, as well as television, radio and Internet properties, the Toronto Blue Jays and the Shopping Channel.

Rogers is forecasting media division losses in the range of 4% to 10% for the entire year, though the company as a whole is still projected l to grow 2% to 4% this year.

A recent report from Leading National Advertisers Canada showed ad page declines exceeding 20% at several Rogers magazines, with the company's consumer business magazines (Canadian Business, Moneysense and Profit) suffering the worst losses.
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