Canwest Global Communications Corp. said yesterday it had a fourth-quarter operating profit of $52 million before charges, compared with $60 million in the fourth quarter of 2008.

For the full fiscal year ended Aug. 31, Canada's largest media company reported profit before restructuring, impairment and one-time charges of $462 million, compared with $616 million. The net loss for the year was $1.69 billion, including $1.42 billion in non-cash impairment charges on goodwill, intangible assets, property and equipment.

Revenue for the fourth quarter dropped to $624 million, down 13 per cent from $721 million in the comparable period of 2008. For the full year, revenue fell eight per cent to $2.9 billion.

On a net basis, Canwest reported a fourth-quarter loss of $111 million, or 62 cents a share, compared with a loss of $1.02 billion, or $5.74 a share, in the same period last year.

Canwest operates Global Television Network and many newspapers, including the National Post and Times Colonist.