MediaNews’ Quarterly Net Income More Than Doubles

The privately held newspaper chain MediaNews Group reported net income for FY 2Q06 more than doubled, the company said in a Securities & Exchange Commission filing on Wednesday. Attributing its positive quarter to a number of acquisitions over the past year, MediaNews reported net income in 2Q06 of $13 million, up from net income of $4.75 million in 1Q. Revenue for the quarter that ended Dec. 31, 2006 totaled $372.5 million, compared with $206.2 million in 1Q06. In the first six months, the Denver-based company said net income totaled $26.3 million on revenue of $667.7 million, up from $5.7 million on revenue of $402.8 million in the year-ago six-month period. MediaNews bought the Mercury News and Contra Costa Times in August, establishing itself as the largest newspaper publisher in the San Francisco Bay area. The company’s SEC filing is available as a PDF here.

Comments have been disabled for this post