The parent company of the Prince Albert Daily Herald expects the tough times to continue for the media division of the company. Transcontinental Media reported today revenue in the media division declined 6.3% or 10.4 million dollars to 154 million dollars in the first quarter, compared to the same quarter the previous year. The quarterly financial statement does not break out revenue by individual product. In a statement from the company, Transcontinental reports “the difficult market conditions with respect to advertising revenues in our local and national markets are likely to continue. As a result, we will remain focused on optimizing our cost structures in order to limit the potential impact on profit margins.”
Overall, Transcontinental Inc. reports a revenue decrease of 5% to 499 million in the quarter, primarily due to the “soft advertising market” which affected both the printing and media sectors of the company. In addition to owning daily newspapers in Prince Albert, Moose Jaw and other centres across the country, Transcontinental is a major printer of flyers and publisher of magazines.
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