SUN MEDIA REVENUES ON THE RISE
By Adnews Staff
Toronto-based Sun Media Corp. has reported increased revenues for the fourth quarter of 1997 ending Dec. 27. Revenues jumped to $146.1 million, compared to $94.3 million during the same time period in 1996. Acquisitions accounted for $35.7 million of the increase, while the rest was derived from existing operations. Operating income for the quarter increased $11.6 million to $30.6 million. For 1997, Sun Media reported a 30% increase in revenues from $365.1 million to $475.7 million. Operating income rose from $49.7 million to $90.9 million. Sun Media bought the Toronto Sun Publishing Corp. in October 1996. Sun Media publishes the Toronto, Calgary, Edmonton, Ottawa and Vancouver Sun newspapers, as well as The Financial Post and The London Free Press.