Glacier Media revenue and earnings up in 2nd quarter

Glacier Media (which was formerly known as Glacier Ventures International Corp.) has released second quarter results that show for the three months ended June 20, the magazine and community newspaper company earned $13.1 million in net income on revenues of $68.9 million, compared with $10.million on $56.3 million in revenues in the same period a year ago. 

The significant growth was at least in part the result of the acquisition in January of JuneWarren Publishing -- for instance, all of the revenue from the annual Canadian Oilfield Service and Supply Directory was reflected in the quarter. During the quarter, Glacier also acquired Electronic Products and Technology magazine. Most of Glacier's revenue is advertising based, since approximately 85% of the companies newspaper distribution is free.

The company's trade magazine division is largely made up of the 90 magazines in  Business Information Group which was acquired from Hollinger Inc. in a deal announced in January 2006. It also publishes The Western Producer, Canada's largest paid circulation farm publication and Acreage Life.