According to FT.com the group which owns 350 titles down under
After reporting a net loss after tax of A$365m for the period ended December,warned that trading conditions in the opening months of 2009 had weakened.
The losses are a result of the group writing down the values of its titles and incurring restructuring costs in relation to the media downturn as well as a slump in advertising.
Excluding the one off items profits were down 23 per cent
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