Earnings Reports: Journal Communications Reports $4.8 Million Loss, Sells Two Radio Stations
Journal Communications Inc., the company that publishes the Milwaukee Journal-Sentinel, reported a $4.8 million loss for Q2 2009, or 11 cents per share.
Revenue was $109.4 million, a 21.9 percent decrease from Q2 2008, and was down across all segments (publishing, broadcasting, and printing). Yet the company’s publishing segment posted a modest profit of $3.3 million—not nearly enough to offset losses elsewhere, including a $19 million writedown for its broadcast licenses.
The company expects revenue to be down next quarter as well, due to “continued challenges across its businesses.”
In a separate release, also from today, the company announced
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