Categories: OLD Media Moves

Dolan reports third-quarter loss, revenue decline

The Dolan Co., the Minneapolis-based publisher of business newspapers across the country, reported a a third-quarter decline in revenues as well as a loss.

The company reported a 20.7 percent decline in third-quarter revenue to $35.5 million. The net loss for the quarter was $27.5 million, or 91 cents per share. The loss includes a $35.4 million goodwill impairment change.

In the division that operates the business newspapers, revenues for the third quarter of 2013 were $15.6 million, a 9.9 percent decrease from $17.3 million in the third quarter of 2012. The majority of the decrease was driven by lower public notice revenues.Direct operating expenses for the division were $5.6 million during the second quarter of 2013, a 9.2 percent decline compared to $6.1 million last year. In addition, SG&A expenses of $7.2 million were 2.3 percent lower than last year.

Dolan’s papers include the Idaho Business Review, the Mississippi Business Journal, the Daily Journal of Commerce in Portland, Ore., and The Daily Record in Baltimore.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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Mark Moskow says:
November 12, 2013 at 2:13 pm
Soon public and legal notices will be online and cost a fraction of what they do now further depressing Dolan's revenue. See legal-notice.org/blog . Already certain online publications are publishing them for free in anticipation of laws changing.