CanWest (NYSE: CWG) reported a Q207 profit, thanks to growth in its TV operations, while classified online revenue offset stagnant ad revenues at its print publications. The Canadian media company recorded earnings of $6.2 million for the period ending Feb. 28, up from a loss of $16.9 million the previous quarter. Revenue was $608 million, up 7 percent from roughly $567 million a year earlier.
Revenue was flat at CanWest’s publications and interactive division at $266 million, which the company said was related to the soft print ad market. The print side’s difficulties were offset by 30 percent growth in the company’s online classified revenue. The Winnipeg, Ontario-based company’s core TV division saw revenue of $288 million, up from $260 million in 1Q. CanWest is preparing to buy specialty-TV group Alliance Atlantis in partnership with an affiliate of Goldman Sachs. Earnings release
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