ProJo parent posts $18M profit amid widespread layoffs

NEW MEDIA INVESTMENT GROUP reported a profit of $18.2 million in 2018, amidst reports of widespread layoffs around its many publications. / PBN FILE PHOTO/BRIAN MCDONALD
NEW MEDIA INVESTMENT GROUP reported a profit of $18.2 million in 2018, amidst reports of widespread layoffs around its many publications. / PBN FILE PHOTO/BRIAN MCDONALD
PROVIDENCE – New Media Investment Group reported net income of $18.2 million, or 31 cents per diluted share in 2018, a turnaround from a $915,000 loss in 2017, or a loss of 2 cents per diluted share. New Media owns several papers in the region, including the Providence Journal, Newport Daily News, Fall River Herald…

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