Ads flat at Rogers pubs; Viner expects no improvement before end of year

Advertising revenue in Rogers Publishing magazines and newspapers were flat during the last quarter, according to a Rogers executive, according to a Financial Post story.

Rogers Media president Tony Viner [told an analysts' conference call today] the picture for media advertising spending that "so far things aren't getting better in 2009," and are unlikely to improve before the end of the year.

He said about 50% of revenues in the company's media business come from advertising, which is lower than other Canadian media companies.

Rogers Communications Inc. reported a loss of $138 million or 22 cents a share in the last quarter ending December 31, compared with the same quarter a year earlier. A good deal of this was due to $294 million in writedowns in its television holdings. However the company is to buy back $300 million in shares and raised its annual dividend to $1.16 or about 29 cents a quater.

Overall revenue from both business units climbed 9.4% to $2.94-billion ($1.65 billion of which was in the company's mobile phone business, which saw a modest increase in the average per-user revenue to almost $75.) Operating revenue at the company's television and cable internet business also rose 6.7% to $985-million.