Friday, November 6, 2009

FP Newspapers Q3 profit shrinks on declining ad revenue

FP Newspapers Income Fund reported Friday a third-quarter profit of $1.1 million at its operating division, which owns the Winnipeg Free Press and Brandon Sun newspapers, down from a year-ago $2.5 million as ad revenues dropped amidst the economic slowdown. The Winnipeg-based fund, which owns 49 per cent of newspaper chain FP Canadian Newspapers Limited Partnership, said the LP saw revenues down 14.3 per cent to $26.6 million.

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