Ad revenue in both print and online was off 20 percent or more; online revenue made up just 7.6 percent of total revs last quarter, woefully low compared to others in the industry.
Some losses were offset by a 9.9 percent increase in circulation revenue due to a newsstand price hike, and expenses were down thanks in part to cuts in April when 500 employees across the company were let go.
Despite the grim outlook, the corporation, which owed $12.7 million at the end of last quarter, was able to successfully pay down its debt to a modest $3.5 million.
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