Highlights from company press release (May 13, 2024):


“Consolidated revenue for the three months ended March 31, 2024, was $34.8 million, down $4.5 million or 11.4% from the same period in the prior year.

“Consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) loss for the quarter was $0.3 million, an improvement of $1.9 million from an EBITDA loss of $2.2 million in the comparative quarter.

“Over the past few quarters, the Company has moved aggressively to close or sell underperforming print community media operations to focus on its core businesses. The remaining print operations continue to perform well, generating cash flow and providing value to customers and readers. The Company will operate these businesses while continuing to closely monitor their performance.

“The substantial 11.4% quarter-over-quarter revenue decline was primarily driven by the closure and sale of underperforming print community media operations and the sale of the mining media business. Not including print community media (where the bulk of the restructuring and sales of business occurred) overall revenues increased by 1.3%.


“EBITDA in the quarter was a loss of $0.3 million, a $1.9 million improvement over Q1 2023. Not including print community media, overall EBITDA was breakeven. The profitability improvement resulted from a combination of restructuring legacy operations and improved profitability in several core operating businesses.

“Financial Position. As at March 31, 2024, the Company had a cash balance of $6.0 million and $7.1 million of non- recourse mortgages and loans (which relates to land for the farm shows in Saskatchewan and Ontario).

See full press release here

Condensed Consolidated Financial Statements

Management Discussion and Analysis