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Sunday, April 10, 2016
Postmedia reports $225 million loss when they really made a $209 million gain
The Vancouver Province is reporting that "Postmedia Network Canada Corp.'s board has created a special committee to oversee a review of the media conglomerate's strategic options amid what CEO Paul Godfrey called "an unrelentingly challenging environment." The company reported another big loss in its second quarter Thursday."
Big loss is an understatement. It reported a $225.1-million loss in its second quarter.
This is of grave concern for everyone. How do we protect and preserve the sanctity of the press in such a competitive market? I'm not sure it's a competitive market so to speak because of all the corporate mergers. It's more of a challenging market because of human nature. Just like how the music industry tanked because of everyone downloading free music. We don't see too many HMV stores around that sell music CDs any more. Even video stores have disappeared partly because of downloading stolen movies.The bottomline is everyone wants something for nothing.
Just like television, revenue comes from advertising on commercials. Nobody likes commercials but nobody likes having to pay for TV either. They've even started running commercials at the previews in movie theatres now.
Yet it is easy for corporations to manipulate numbers one way or the other to suit their agenda. They want to cut jobs and expenses so they post an increase in losses to rationalize it. However, the increase in the loss resulted from an expenditure. They bought Sun Media from Quebecor in 2015. CBC is reporting that "the second-quarter net loss of $225.1 million, mainly due to an $187-million impairment charge." I'm not sure what the $187-million impairment charge was all about but it's certainly worth finding out.
Over all revenue increased from the purchase of Sun Media. CBC reported that "Revenues for the most recent quarter were $209.1 million, up from $145.4 million a year earlier, thanks to the company's acquisition of Sun Media from Quebecor in 2015." It's only when we factor out the increased revenue from Sun Media and factor in the expenditure that there apears to be a net loss when in reality there wasn't one at all. That's how they manipulate the numbers.
Why does any of this matter? Because like I keep saying, the freedom of the press is a sacred thing. Without it we become an uneducated mushroom patch always kept in the dark on important political issues that directly effect the amount of taxes we pay and the civil liberty we enjoy.Nobody likes politics but no one likes paying more taxes either and everyone likes civl liberty. I therefore submit that it's time for the public to become politically aware so they have more freedom and more money in their pocket. It's a catch 22. It's called social justice.
When we lose the freedom of speech, we lose our collective and individual freedom as well.
Kate Chruscicka: Requiem for a Dream.
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If PostMedia closes its doors, who cares. its not like they print any news. They print "junk" which don't seem that much different than press releases from the b.c. lieberals.ReplyDelete
back in the day the Sun and province did indepth reporting, investigative reporting, etc. Now its shootings, car accidents, stock reports, and sports.
Where do we read the real news about what is going on in this province? The blogs. They report what the province's debts are, how many children die in care, how much money is "given" to b.c. lieberal insiders, report on deals with companies which do not exactly have clean records and infact sometimes have criminal records.
Then of course all Post Media papers suggested Canadians vote for Harper and his slimers. 48% of Post Media is owned by an American hedge fund and we all know what their first interest is and it isn't news, as it should be,.
I realize a lot of people are cynical about the Main Stream Media. I share some of those concerns. However, I really do think things are much worse in other countries. If Post Media stopped reporting news I think we would be diminished.Delete
I obviously love blogs but bloggers wouldn't have anything to talk about if the media didn't break stories in the first place.
The main complaint I see is that all the different newspapers sound the same now. One outlet runs a story and everyone else picks it up but now we also have reporters with the Vancouver Sun having their articles published in the Vancouver Province and via a versa. I'm not sure that's a bad thing. My only concern is that when all the media outlets are owned by one body, they become much easier to control.
Right now in Canada we have two media outlets: Post Media and the CBC.
That's why the government hates the Internet, they're losing control. Thanks to people like Denis. Did anybody see the story "The Rebel" broke yesterday about the Syrian refugees who choked a child on the east coast with a chain and saying Muslims rule the world. The story was retracted, eerily similar to what's happening in Europe. Keep up the good work Agent K. On another note in regard to Barry Seal, one of the best books I ever read was called "American Desperado" I would recommend it to everyoneReplyDelete
We have Syrian refugees living next door to us and they are wonderful. Their young children are cute, friendly and a joy too see. It sounds like the original article was pulled because it was full of errors.Delete
With regards to the CIA's drug trafficking we have to remember they also bombard the media with false press releases as well. Like Operation Mass Appeal when they knowingly sent out false press releases about Iraq's WMD.
One thing this world needs right now is a little less hate and intolerance. I support the freedom of religion and a free republic.
Yes it appears that story about the refugees was a complete fabrication:Delete