SUN MEDIA REPORTS JUMP IN REVENUES
By Adnews Staff
Toronto-based Sun Media Corp. reported a 9.3% increase in revenues for the third quarter ending Sept. 26. Revenues were $133.7 million, compared to $122.4 million during the same period last year. Excluding the impact of acquisitions and sell-offs, revenues jumped 4%. Operating income was $21.4 million, an increase of 6.5% over the same period in 1997. For the first nine months of the year, Sun Media's revenues increased 22.5% from $329.6 million to $403.6 million. Adjusting for acquisitions and sell-offs, revenues rose 5.7%. Operating income was $72.9 million, an increase of $12.7 million over 1997. In September, Sun Media bought four Ontario daily newspapers from Southam Inc. of Toronto and sold its 80% interest in The Financial Post Company to Southam.