The Daily Mail & General Trust's full-year profit fell 9 percent after advertising expenditure at its UK national Associated Newspaper division dropped 10 percent in October, the Cumbrian Business Gazette reported Thursday.

DMGT is looking to save £100 million in its national and regional newspaper divisions to combat sinking ad revenues, and has already cut 400 jobs in the past two months, the Daily Telegraph reported. Media outlets in Europe and North America have been hit hard as businesses have tightened their belts and cut advertising spending.

In all, pre-tax profits for the year fell to £262 million, the Daily Telegraph reported.

Another cost-cutting measure includes the possibility of merging London-based back offices with Independent News & Media, Martin Morgan, chief executive of DMGT, told the Daily Telegraph. The two groups are currently in talks.

However, the group also announced its non-advertising supported business, which makes up 50 percent of the group's overall revenue, saw profits rise over the year, the Business Gazette reported.