SUN MEDIA IMPROVES REVENUES
By Adnews Staff
Toronto-based Sun Media Corp. has reported a 14.9% jump in revenue for the six months ending June 28,1997. Revenues were $207.2 million, compared to $180.3 million in 1996. Operating income rose from $14.3 million in 1996 to $40.2 million. During the second quarter of the year, revenue increased 23.5% from $95 million last year to $117.3 million this year. Acquisitions account for about 70% of the increase. Operating income for the quarter rose $14.6 million to $25.4 million. Operating income for last year was $10.7 million. Acquisitions account for $3.2 million of the increase over last year. All divisions of Sun Media reported higher advertising revenues compared to 1996, and lineage volumes were ahead of last year, with classified advertising being the strongest category. Sun Media bought The Toronto Sun Publishing Corp. on Oct. 3, 1996. As a result, financial reports for last year are the results of TSPC. In May, Sun Media became the second largest publisher in Canada in terms of total circulation after buying The London Free Press from the Blackburn Group of London, Ont.