Metro International expects third quarter losses to reach $18 million, double last year's deficit, and a blow that has it reviewing its operations around the world, Brand Republic reported Friday.

“We are launching actions based on our findings and conclusions and this work will intensify over the coming period,” said Dennis Malamatinas, chairman of the board at Metro, according to the report.

Malamatinas called the quarter's results “disappointing,” and said the strategic review launched by the board “is necessary to improve the financial performance of the company.”

The figures will be published October 22, and are expected to show a $13 million operational loss, and a $5 million non-recurring charge relating to consultancy costs and the departure of former CEO Pelle Tornberg, Brand Republic reported.

Chris Spalding, Metro's chief operating officer, is acting as CEO until November, when former editor-in-chief Per Mikael Jensen returns.

Metro International publishes free newspapers in more than 100 European, American and Asian cities.