Radio & Television

Soft ad revenue, competition, eats in to year-end profits at Newcap

DARTMOUTH – While Newfoundland Capital Corporation credited its new radio stations in Toronto and Vancouver for helping to drive up revenues, the company’s 2014 profits took a sharp drop.For the year ended December 31, 2014, revenue of $154.5 million was 17% higher than last year, and earnings before interest, taxes, depreciation and amortization (EBITDA) of $41.6 million was 25% year-over-year, both of which the company attributed to the new big market stations acquired from Bell last March.Year to date profit of $11.2 million was $15.8 million lower than 2013, due primarily to a non-cash impairment charge of $5.7 million and...