Postmedia reports larger quarterly net loss
TORONTO (Reuters) - Postmedia Network PNCb.TO, which publishes Canada's largest chain of newspapers, reported a wider fiscal third-quarter net loss on Tuesday, as its print advertising revenues dropped again.
Postmedia, whose papers include the flagship National Post, as well as the Montreal Gazette, Ottawa Citizen and Vancouver Sun, said its net loss in the quarter ended May 31 widened to C$12.1 million from a year-ago loss of C$2.7 million.
The company was created to buy the newspaper assets of bankrupt Canwest. It is attempting to cut costs by reshaping its titles for the digital age and increasing revenue from its websites, smartphone and tablets apps, and other services.
(Reporting by Euan Rocha)
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