Canadian Publishing Industry News
15 January 2021,     TORONTO
Postmedia revenue slides 25% in first quarter
Postmedia reports that its first-quarter revenue was down 25.4% from the same quarter last year due to a significant impact from the pandemic. Revenue in the quarter ended November 30, 2020, dropped to $116.9 million from $156.7 million, a decrease of $39.7 million. The company booked $6.6 million related to Canada Emergency Wage Subsidy.

 The revenue decline was primarily due to decreases in print advertising revenue of $20.6 million or 32.1% and a digital revenue drop of $10.7 million or 31.1%, with digital advertising revenue down 36.0%. Print circulation revenue declined $6.2 million or 12.4% versus the same period last year.


Net earnings rose to $52.8 million compared to a loss of $3.0 million last year due to non-cash settlement gain related to employee benefits, foreign exchange gains, and decreases in depreciation, amortization and restructuring expenses.

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