In third-quarter financial results released earlier this week, Rogers Communications media division which includes both its trade and consumer magazine titles as well as television, radio and the Toronto Blue Jays baseball team reported a decrease in operating profit of 16% for the end of the quarter and 34% for the last nine months.

According to a company press release the media division was down because of ongoing industry weakness in advertising. For the last three months ending Sept. 30, profits for the media division were $36 million compared with $43 million for the same period in 2008.

Operating revenues also dipped 6%, from $386 million to $364 million. The report did have a positive note though, stating that starting in the third quarter, the rate of year-over-year decline in advertising sales began to moderate for the first time in several quarters.