New Media reports profit decline, announces more newspaper acquisitions

NEW MEDIA Investment Group Inc. recorded a 54.2 percent drop in net income and 1.7 percent decline in revenue, in its third quarter earnings report.
NEW MEDIA Investment Group Inc. recorded a 54.2 percent drop in net income and 1.7 percent decline in revenue, in its third quarter earnings report.
PROVIDENCE – New Media Investment Group Inc. recorded a 54.2 percent drop in net income and 1.7 percent decline in revenue, and also announced additional newspaper acquisitions in its third quarter earnings report released Thursday. New Media, whose GateHouse Media owns the Providence Journal, said net income fell to $2.8 million, or 6 cents per…

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