JOB CUTS PUT BATON IN RED
By Adnews Staff
Toronto-based Baton Broadcasting Inc. lost $4 million during the second quarter because of job cuts, resulting in a one-time charge for severance costs. The quarter ended Feb. 28. Improved ratings over the time period pushed revenue to $57.8 million from $49 million for the same quarter last year. Operating profit for the quarter rose to $8.4 million, compared to $4.8 million a year earlier. For the first half of the year, Baton showed a profit of $635,000, compared to a profit of $5.2 million a year earlier.
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