SUN MEDIA REPORTS RISE IN REVENUES
By Adnews Staff
Toronto-based Sun Media Corp. has reported a 39.9% jump in revenues for the first quarter ending March 28. Revenues were $125.7 million, compared to $89.9 million during the same period in 1997. Excluding acquisitions, revenues increased 7.6%. Operating expenses rose from $75.1 million to $104.5 million. Acquisitions accounted for $23.6 million of the increase in operating expenses. Operating income jumped 43.8% to $21.3 million. All divisions reported higher advertising revenues compared to 1997, and overall lineage volumes were ahead by about 12%. Sun Media publishes five daily newspapers: The Toronto Sun, The Edmonton Sun, The Calgary Sun, The Ottawa Sun, The London Free Press and The Financial Post, which is 80% owned by Sun Media. The company's Community Newspaper Group publishes five daily community newspapers, 79 weekly community newspapers and shopping guides in Canada and in Florida, as well as 17 farming and other specialty publications.