Canadian Magazine Industry News
18 February 2010,     TORONTO
Rogers Communications profits up in fourth quarter, media revenue down
The financial reports for Rogers Communications’ fourth quarter, ended December 31, 2009, show the media division, which includes magazines in addition to television properties and other entities including the Toronto Blue Jays, was down six percent in revenue for the year.

The release noted that media operating expenses were down five percent in the quarter, from $1.354 billion in 2008 to $1.288 billion at the end of the 2009 fourth quarter.

Despite the drop in expenses, media operating profit was down 49 percent for the year, from $142 million in 2008 to $73 million at the end of 2009.

There were no specific numbers released for Rogers trade and consumer magazines.

Overall, Rogers Communications’ adjusted operating profit was up eight percent for the year, from $4.060 billion last year to $4.388 billion at the end of the 2009 fourth quarter. This includes properties such as wireless and cable.

— Val Maloney
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Wow, Torstar really seems to be on a mission to bankrupt one magazine after another....
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