DENVER-
ap, the nation’s fourth-largest newspaper chain, said Tuesday it reversed a loss and posted a net profit in the third quarter, bolstered in part by recent acquisitions.
For the January-to-March quarter, MediaNews reported net income of $4.3 million, compared with a net loss of $3.6 million in the third quarter of 2006, the Denver-based company said in a regulatory filing.
Revenue totaled $317 million, up from $208.4 million in the third quarter of 2006.
The January-to-March quarter is typically the company’s weakest for generating revenue because of weather-related issues and the lack of a major holiday, the company said.
MediaNews recorded a combined loss of $7.1 million from joint operating agreements in Denver and Salt Lake City, compared with a net loss of $8.1 million in the previous third quarter.
The company operates The Denver Post in a JOA with E.W. Scripps Co., the Cincinnati-based owner of the Rocky Mountain News. MediaNews operates the Salt Lake Tribune under a JOA with the Deseret News Publishing Co.
In the Securities and Exchange Commission filing, MediaNews said depreciation and amortization expense related to the Denver JOA grew this year because some fixed assets at production facilities in Denver will be or have been retired early due to the construction of new production facilities.
In the first nine months, MediaNews reported net income of $30.6 million on revenue of $984.7 million. That compared with net income of $2.1 million on revenue of $611.2 million in the first nine months of 2006.
MediaNews also said it is conducting work force reductions at some recently acquired newspapers as well as The Denver Post. It added that it has not made all announcements yet regarding such planned work force reductions.
The privately held company has added a number of news publications to its portfolio in the past year, including the San Jose Mercury News and Contra Costa Times in August, which established it as the largest newspaper publisher in the San Francisco Bay area.
MediaNews is headed by Chief Executive Officer Dean Singleton. Together with its affiliated companies, MediaNews publishes 61 daily newspapers and approximately 120 non-daily publications in 13 states, a television station and four radio stations.
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