Guardian Media Ltd (GML), the Trinidad and Tobago media group owned by conglomerate ANSA McAL, has reported a significantly deeper loss for the first nine months of 2026, with its broadcasting business accounting for most of the deterioration.
The group's loss before tax reached $23.3 million for the period ended September 30, 2026, while losses in its multimedia segment rose by 445% compared with a year earlier, according to a report by Trinidad Express Newspapers based on the company's unaudited financial results.
Broadcasting Division Drives the Decline
GML's multimedia segment, which runs CNC3 television, seven radio stations and several other business lines, posted a loss before tax of $10.9 million for the nine months.
That compares with a loss of $2 million in the same period of 2025, a more than fivefold increase that made the segment the largest contributor to the group's widening losses.
Group Losses and Revenue Move in the Wrong Direction
At the consolidated level, the loss before tax climbed 65% from $14.1 million in the first nine months of 2025 to $23.3 million this year.
Revenue fell 16% over the same stretch, sliding to $53.5 million from $63.4 million. That represents a drop of $9.9 million in year-to-date sales.
Print Business Holds Roughly Steady
The print segment, built mainly around circulation of the Trinidad Guardian newspaper and printing work for other publishers, saw only a slight change in its results.
Its loss before tax edged up to $12.3 million from $12.1 million, suggesting the print side's performance was largely flat while the broadcasting side weakened sharply.
Third Quarter Shows Some Revenue Recovery
In his statement accompanying the results, chairman Peter Clarke pointed to an improvement in sales during the most recent quarter. Revenue for the three months ended September 30 rose by $1.3 million, or 7%, to $19.3 million.
The higher sales did not translate into better profitability, however. Clarke noted that the group's quarterly loss before tax grew to $8.5 million, up from $6.3 million in the third quarter of 2025.
Management Cites a Difficult Market
Clarke attributed the weak performance to a tough commercial climate, describing soft demand and restrained consumer spending in the period leading up to the country's 2026 national budget, which was presented on October 12, 2026.
He said management is concentrating on lifting revenue, running operations more efficiently and keeping a tight rein on costs. "Importantly, our balance sheet continues to reflect stability and resilience," Clarke said.
He also thanked shareholders, staff, customers and business partners for their ongoing support.
What the Results Signal for Regional Media
GML's figures reflect pressures facing many traditional media companies, where advertising budgets tend to tighten quickly when consumers and businesses pull back on spending. Broadcasters and newspapers alike have been contending with audiences and advertisers shifting toward digital platforms.
For the group, the key question is whether the modest third-quarter revenue gain marks the start of a recovery or a temporary bump. With losses still growing despite higher sales, cost control and new revenue streams are likely to remain central to its strategy, and investors will be watching how ANSA McAL supports its media arm going forward.
Source: Trinidad Express Newspapers
