SUN MEDIA PROFITS JUMP
By Adnews Staff
Sun Media Corp. of Toronto has reported a 43.7% increase in revenues for the third quarter ending Sept. 27. Revenues during the period reached $122.4 million during the period, compared to $85.1 million a year earlier. Acquisitions accounted for about 84% of the increase. Operating income jumped to $20.1 million, compared to $6.4 million last year. Acquisitions accounted for $5.5 million of the increase over last year. Consolidated advertising revenues increased 10.8% over the third quarter of 1996. For the first nine months, revenues rose 24.2% to $329.6 million, compared to $265.4 million last year. Operating income increased $39.5 million to $60.2 million. Sun Media bought The Toronto Sun Publishing Corp. in October 1996. It published newspapers such as The Toronto Sun, Ottawa Sun and The Financial Post. In addition, the company bought The London Free Press last May.