CanWest (NYSE: CWG) reported Q3 profits of $8 million, a 38.5 percent drop from last year’s $13 million. Meanwhile, the Canadian media company said revenues were up by 7 percent to $738 million compared to $687 million in Q306.

While Winnipeg-based CanWest didn’t break out numbers for its online properties, the company did say its canada.com website network averaged about 5 million unique visitors per month for the nine months ending May 31, 2007, a 38 increase over the same period a year ago. Its publishing revenues grew 3 percent during the quarter and EBITDA rose by $5 million, or 8 percent, to $72 million in Q3 as CanWest cited a series of cost containment moves and revenue growth in inserts and retail advertising. Earnings release