Earnings: Journal Comm Posts $223M Net Loss; Online Revs Slide In Q4


imageImpairment charges on licensing fees and severance swung Journal Communications (NYSE: JRN) to a net loss of $223 million in Q4 versus the $9.5 million in profits the year before. Revenues for the Milwaukee newspaper and broadcast owner fell 9 percent to $134.3 million. The publisher of the Milwaukee Journal Sentinel — its only daily, as Journal Comm owns a few weekly community papers — said that interactive ad revs at its daily paper slipped 3.4 percent to $3.6 million compared to $3.7 million, a further sign that online advertising is no longer the bright spot it used to be. Overall, publishing revenue dropped 10.4 percent to $60 million.

December revs: In its last monthly revenue report — many, if not most newspaper publishers have decided to curtail the practice since results continue to look poor — Journal Comm said online revs at the Journal Sentinel decreased 7.4 percent to $1.15 million compared to $1.24 million. Total advertising revenues of $32.41 million decreased 14.9 percent.

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