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Primedia loss narrows

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New York--Magazine publisher Primedia Inc. Thursday posted a narrower third-quarter loss.

Primedia, which publishes dozens of special interest and trade titles, reported a loss of $2.8 million, or 1 cent a share, compared with a loss of $292.8 million, or $1.29 a share, a year earlier. Revenue rose 5.8% to $400 million from $378 million a year earlier.

Earnings before interest, taxes, depreciation and amortization (EBITDA), a measurement of cash flow used by many media companies, nearly doubled to $65.5 million from $33.8 million.

Advertising in Primedia's general interest magazines is stable, but advertising in its trade magazines is still soft, the company said.

--Matthew Schwartz

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