New World Entertainment reported an operating loss...

New World Entertainment reported an operating loss of $23.5 million on revenue of $47.8 million for the third quarter. The operating loss stemmed from the company’s decision not to release any motion pictures during the period and a reduction of television shows delivered to networks as a result of a Writer’s Guild strike, New World said. The company posted a $74.1-million extraordinary gain, however, as a result of restructuring its debt in the third quarter, resulting in net income of $41 million, compared to a loss of $5.8 million a year ago. New World said it anticipated additional operating losses for the fourth quarter.