Newcap Radio posts loss after station acquisitions
telecom | 05/09/2014 4:18 pm EDT
Newfoundland Capital Corp. Ltd., which operates a national network of radio stations as Newcap Radio, said in its first quarter results on Thursday that lower advertising revenues at its radio stations hurt the company’s bottom line.
The company reported a loss of $3.2 million, compared with a profit of $2.1 million in the same period last year, on revenue of $28.5 million, down one per cent from $28.8 million in the same period last year.
The company blamed the loss on costs related to its $112-million purchase of five radio stations in Toronto and Vancouver from BCE Inc., which
...