DNA revenue falls 10.9% in Q4
By David Milstead, Rocky Mountain News (Contact)
Published February 15, 2008 at 12:05 a.m.
Revenue at the Denver Newspaper Agency dropped 10.9 percent, to $94.3 million, in the quarter ended Dec. 31.
The figure is included in the quarterly report of Denver- based MediaNews Group, the owner of The Denver Post. MediaNews is a 50-50 partner in the agency with E.W. Scripps, parent of the Rocky Mountain News.
The fourth-quarter decline is not as sharp as the 12 percent revenue drop in the quarter ended Sept. 30.
MediaNews said its share of earnings at the agency was $8.8 million, a figure that does not include the costs of running the Post newsroom. Those costs were not disclosed.
MediaNews did say its profits from Denver and Salt Lake City, including newsroom expenses, were $12.5 million in the quarter, up from $804,000 in the quarter ended Dec. 31, 2006.
Companywide, MediaNews reported a revenue decline of 7.3 percent in the quarter, to $345.2 million. Net income was $17.35 million, up from $12.96 million in the quarter ended in December 2006. Profits were boosted by $12.5 million in noncash accounting gains because of changes in the company's newspaper partnerships in California and Connecticut.
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