The Telegraaf Media Group posted a loss of over €32m as income from advertising fell again, TMG said on Wednesday.

Income from advertising in print products was down 13% on 2010 while radio advertising earnings fell 8%. However, advertising on internet rose 35% and now accounts for 12% of group turnover.
The group’s net profit was also pressured by write-offs on its investments totalling €52m, including social networking site Hyves and the Sky Radio group.
TMG, which publishes the Netherlands’ biggest daily paper, hopes to benefit from a number of major sports events this year, including the Olympics in London and the European football championships.
Regional papers
Meanwhile, publishing group Wegener, which includes regional papers De Gelderlander, De Limburger and the Brabants Dagblad, saw newspaper advertising fall 14% last year while advertising in local freesheets was down 7%.
Total revenues were down 3% at €513m and the group made net profit of €30.5m, compared with a loss of €32.6m in 2010. Wegener said last month it plans to focus more on digital media, leading to a loss of between 300 and 350 jobs.
Wegener also said on Wednesday its parent company Mecom has expanded its stake in the company to 99.7%.