Morris Publishing reports Q2 losses

Morris Publishing Group LLC, parent company of the Juneau Empire, has posted large losses in its second quarter ending June 30.

 

The Augusta, Ga.-based company reports a net loss of $1.2 million this quarter. This compares to a $154,000 loss from last year’s second quarter.

SEC filings also state advertising revenue for the publishing company’s daily newspapers have dropped $4.7 million, or 11.9 percent, this quarter compared to last year’s.

Total national advertising revenue fell 22.3 percent to $2.3 million. Total retail advertising revenues dropped 10.4 percent and classified revenues dropped by 11.9 percent. The results were $22.4 million and $13.5 million respectively. Circulation revenue was down 2.4 percent over last year’s, coming in at $15 million.

Other revenues went up 47.6 percent and total operating expenses declined 3.4 percent over second quarter 2010.

National net operating revenues for the quarter fell 22.3 percent from the previous year’s quarter to $2.3 million.

Chief Financial Officer Steve Stone said the Empire is not large enough to determine how it plays into these numbers.

Morris stated it does not comment on the filings, nor on company profitability.

Morris owns and operates 13 daily papers across the U.S. It also has non-daily newspapers, magazines and other publications.

Morris emerged from Chapter 11 bankruptcy protection in February 2010.

• Contact reporter Jonathan Grass at 523-2276 or jonathan.grass@juneauempire.com.

CONTACT US

  • Switchboard: 907-586-3740
  • Circulation and Delivery: 907-586-3740
  • Newsroom Fax: 907-586-9097
  • Business Fax: 907-586-9097
  • Accounts Receivable: 907-523-2230
  • View the Staff Directory
  • or Send feedback

ADVERTISING

SUBSCRIBER SERVICES

SOCIAL NETWORKING

 

More

Fri, 06/23/2017 - 07:35

Auke Rec road to be closed Tuesday

Those looking to take in the view at Auke Recreation Area on Tuesday morning will have to wait a few hours.

Read more

Seward statue arrives, ready for unveiling

A long-awaited statue of William Henry Seward is ready to take its spot near the Alaska State Capitol on July 3.

Read more

Around the Web