7am News, Sports and Obits

Latest WGIL news
Click to play or
Right click and "Save Target As" to download
Click for Galesburg, Illinois Forecast
Home - Cancellations - Community Events - Contact Us - Mornings - News - Obituaries - Pictures - Programs - Special Events Audio - Sports - Weather
Register-Mail's Parent Reports Mixed Earnings
The parent company of a number of local newspapers says it's doing better than most of its peers in the newspaper industry, but recording a large operating loss.

Earnings released Friday for New York-state-based GateHouse Media indicate that the company's total revenues for the second quarter of this year increased nearly 17-percent over the same period a year ago, totaling 184-million dollars. But they also say that the company's operating loss was nearly 430-million dollars during that same period.

The owner of papers like the Galesburg Register-Mail, the Monmouth Review-Atlas, Galesburg's The Paper, the Galva News, and the Kewanee Star Courier, among others, says it will be suspending paying out a quarterly dividend until further notice.

GateHouse says local adversiting revenues continue to do well, while decreases were seen in classified advertising and commercial printing.

It says one big positive was in online revenue, which increased nearly 35-percent over the second quarter of 2007.

Stock in GateHouse Media was trading around 70-cents a share early Friday afternoon on the New York Stock Exchange.
08 08 08 by Newsroom
News management powered by Xpression News

Click here for the WGIL News Archive

Click here for national news

The following provision applies to all visitors (which shall include persons and representatives of legal entities, whether such representatives are persons or digital engines of a kind that crawls, indexes, scrapes, copies, stores or transmits digital content). By accessing this Web site or digital service, you specifically acknowledge and agree that: (i) Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium; (ii) No Associated Press materials nor any portion thereof may be stored in a computer except for personal and non-commercial use; (iii) The Associated Press will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing; (iv) The Associated Press is an intended third party beneficiary of these terms and conditions and it may exercise all rights and remedies available to it; and (v) The Associated Press reserves the right to audit possible unauthorized commercial use of AP materials or any portion thereof at any time.