$1-MILLION LOSS AT TORONTO SUN PUBLISHING
By Adnews Staff
Toronto Sun Publishing Corp. says ad revenues were down at most of its divisions in the first quarter. Total linage at the four Sun dailies and The Financial Post was down 6.5% from the same period last year. Revenue for the three months ending April 1 was $85.3 million, compared with $85.2 million in the first quarter of 1995. The publishing company went from a profit of $716,000 in the first quarter of last year to a loss of $1 million this year, mainly because of newsprint and ink costs. Other reasons cited for the loss are the start-up costs associated with the six-month-old Sports Only weekly in B.C., and a new Web site. At the same time as they are trying to deal with flat markets and rising costs, Sun Publishing management is facing unrest from employees dissatisfied with their pay. Staff at the company's flagship paper, The Toronto Sun, threatened to disrupt the annual shareholders' meeting with some pointed questions after it was disclosed that upper management enjoyed hefty increases in pay and bonuses last year. The lower echelons have been held to raises ranging from 0 to 2% since 1993, and editorial salaries are considerably lower than those at two competitors, The Toronto Star and The Globe and Mail. Sun staff called off their plans to disrupt the annual meeting after Sun Publishing president Paul Godfrey promised to investigate possible pay inequities. A meeting has been scheduled for May 3 between Sun executives and employees to discuss the matter.