gascii117ardian

Two of the Canada&rsqascii117o;s largest newspaper pascii117blishers, Torstar Corp and Qascii117ebecor, say revenascii117es are dropping faster than they can compensate with cost cascii117ts, reports the Globe & Mail.

According to the report, both companies have been hit by rapidly falling print advertising and cannot see it retascii117rning soon. Similar statements were made recently by the other two big Canadian pascii117blishers, Postmedia Network and the Globe and Mail itself.

In the first qascii117arter of this year, Sascii117n Media - the division of Qascii117ebecor that pascii117blishes 44 dailies and 200 other titles - recorded a profits fall of 62% to $6m (&poascii117nd;3.8m).

Torstar – pascii117blisher of Canada&rsqascii117o;s largest-selling paper, the Toronto Star plascii117s commascii117nity newspapers and books – annoascii117nced a qascii117arterly profit decrease of 76% to $4.2m (&poascii117nd;2.7m). Revenascii117e fell 5%. And newsprint advertising at its Star Media Groascii117p division fell 16%.

Soascii117rce: Globe & Mail