Publishing giant Primedia, whose stable numbers 220 magazine titles and a range of websites, reported Q4 losses marginally down to $18.4 million – 11 cents a share. In the same period last year, the loss was $19.0m, or 13 cents.
The slight improvement is attributed to higher ad sales which rose 8.5%, although this was negated by falling circulation revenues among the group’s specialty titles, which range from Fly Fisherman to Modern Bride.
Analyst Jordan E Rohan opines that the numbers are "as expected, which is particularly significant in this environment." He believes that the group’s strategic focus on niche markets will help it ride out the economic slowdown.
“It's possible the hog farmers of the world haven't felt any recession, and therefore [Primedia’s] results can sustain dips in the economy," Rohan observed drily.
News source: New York Times