Postmedia Network Canada Corp. reported a loss of $35.8 million for its fourth quarter of 2013, down from a loss of $28.4 million in the same period a year earlier. The company said in a release Thursday, announcing its year-end and fourth-quarter results for the period ending Aug. 31, that its losses deepened primarily as a result of ad revenue declines. Postmedia’s revenues in the three-month period were $169.3 million, falling $20.8 million, or 10.9 per cent, from the same period a year earlier. For the 12-month period ending Aug. 31, revenue of $751.6 million was $80.3 million or 9.7 per cent lower than the previous year, as print advertising revenue dropped by $69.4 million or 13.5 per cent. Print circulation revenue for the year also fell by $13.3 million, or 6.3 per cent, as “a result of declines in circulation volumes partially offset by price increases,” Postmedia said. Digital revenue for the year rose by $2.5 million or 2.8 per cent. During those 12 months, the company cut total expenses by $66.4 million, or 9.7 per cent, across “all operating expense categories including compensation, newsprint, distribution and other operating expenses,” the release said. Postmedia, which owns a national chain of newspapers and websites including the National Post and the Ottawa Citizen, is implementing a three-year transformation program that aims for annual cost savings of 15 to 20 per cent. The company is selling some of its real estate, with plans to sell a printing facility in Surrey, B.C. and the Calgary Herald building in Alberta. Postmedia also announced Thursday the appointment of Peter Sharpe as lead director of the boards of Postmedia and its subsidiary, Postmedia Network Inc.