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Earnings

Scripps 3Q TV Station Revenue Up 22%

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The E.W. Scripps Company today reported that its TV station revenue was $121 million in the third quarter of 2014. That’s up $21.8 million, or 22%, from the same quarter in 2013. According to TVNewsCheck, the increase was fueled by a combination of higher local, political and digital revenue.

Here’s what the ad revenue looked like, broken down into categories:

  • Local, up 1.8% to $55.6 million
  • National, down 2.8% to $26.6 million
  • Political, $17.4 million compared to $1 million in the 2013 quarter
  • Retransmission fees, up 46% to $15.2 million
  • Digital revenue increased 8.5% to $4.6 million

High network fees linked to the increase in retransmission revenue was responsible for $2.3 million of the $10.9 million increase.

“Our local TV brands proved to be the venue of choice for candidates and issue backers in several of the most active election states,” Scripps chairman-president-chief executive officer Rich Boehne said in a statement. “For us, this is a low-cost revenue stream that at its peak displaces some core local advertisers. Now with the elections behind us, we expect core advertisers to return through the remainder of the fourth quarter.”

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Q2 Earnings: Tribune Broadcasting Revenues Up 63%

TribuneMedia_CMYK_pri_LrgTypeTribune Media reported $425.8 million in broadcasting segment revenues for the second quarter of 2014, a 63% increase compared to the year-ago quarter.

Broadcasting segment revenues in the second quarter were up 4.9% pro forma for the acquisition of Local TV, which was completed in December. On the same basis, retransmission consent revenues were up 78% and advertising revenues were down 2.2%.

“I am very pleased with our accomplishments in the second quarter,” Tribune Media president and CEO Peter Liguori said in a statement. “While the core advertising market experienced headwinds in the first half of the year, we continue to be encouraged by the strength of our new broadcast scale, as evidenced in our year-over-year retransmission fee increases, and feel positive about the opportunities presented by the political advertising landscape in the second half of 2014.”

Q2 Earnings: Sinclair Net Broadcast Revenues Rise 45%

sinclair logoSinclair Broadcast Group reported $404.2 million in net broadcast revenues for the second quarter of 2014, a 44.7 percent increase on the year-ago quarter. Operating income was $103 million, an increase of 22.3 percent from Q2 2013.

Political revenues were $11.6 million for the quarter, up from $1.5 million in the year-ago period. Local net broadcast revenues (including local time sales, retransmission revenues and other broadcast revenues) were up 47 percent and national net broadcast revenues (national time sales and other national broadcast revenues) were up 36.3 percent.

“With the acquisition of Allbritton now complete, our focus will be on rationalizing and strengthening the portfolio, building upon our existing television station platform as it relates to investments in digital interactive and news content, and expanding our recently launched collegiate sports initiative,” Sinclair CEO David Smith said in a statement. “At the same time, we will continue to push for regulatory reform and building the next generation broadcast platform, both of which will allow us to more effectively compete with other forms of media.”

Q2 Earnings: LIN Media Net Revenues Rise 15%

lin media logoLIN Media reported $188.8 million in net revenues during the second quarter of 2014, a 15% increase compared to the year-ago quarter. The company’s net broadcast revenues were also up 8% compared to the second quarter of 2013.

Operating income was $32.7 million in the second quarter, an increase of 22% year-over-year. Net digital revenues, net political revenues and local revenues were also up, while net national revenues were down and net core advertising revenues were flat.

“Our strong results were driven by continued growth of our digital media business, higher pay-television subscriber fees and a 3% increase in automotive advertising. We are making progress on our pending merger with Media General, and I am excited about the numerous opportunities for the combined company,” LIN Media president and CEO Vincent L. Sadusky said in a statement.

Q2 Earnings: Graham Media Group Revenue Up 10%

GrahamHoldingsLogo-jpgGraham Media Group (formerly the Post-Newsweek stations) reported $88.3 million in television broadcasting revenue during the second quarter of 2014, a 10 percent increase on the year-ago quarter.

Operating income for the quarter was up 12% to $44.1 million. The station group says the increase in revenue and operating income  “is due to a $6.9 million increase in political advertising revenue, $9.5 million in incremental winter Olympics-related advertising revenue at the Company’s NBC affiliates and $9.3 million in increased retransmission revenues.”

The company’s second quarter earnings exclude WPLG, the ABC affiliate in Miami, which was recently sold to Warren Buffet‘s Berkshire Hathaway.

Q2 Earnings: Meredith Local Media Group Revenue Up 20%

meredith_1Meredith reported $111 million in Local Media Group revenues for the second calendar quarter (fiscal fourth quarter) of 2014, an increase of 20 percent compared to the year-ago quarter.

Operating profit for the quarter was $25 million, compared to $28 million in the prior-year period. For fiscal 2014, operating profit was $113 million and revenues were up 7 percent to a record $403 million, according to Meredith.

“We delivered record revenues and operating profit for a non-political year,” Local Media Group President Paul Karpowicz said in a statement. “We’re excited to add KTVK in Phoenix and KMOV in St. Louis to the Meredith portfolio, and look forward to having WGGB in Springfield join our group. The addition of these stations – along with increasing retransmission revenues, growing non-political advertising, rising digital advertising and the upcoming political advertising cycle – point to a strong fiscal 2015 for our business.”

Q2 Earnings: Gannett Broadcasting Revenue Up 88%

gannett logoGannett Broadcasting reported $398.3 million in revenues for the second quarter of 2014, an 88 percent increase compared to the year-ago quarter. The increase was a reflection of Gannett’s acquisition of Belo, as well as higher retransmission revenue and political revenue “across all of our stations,” according to the company.

On a pro forma basis, broadcasting segment revenues were up 13.4 percent and retransmission revenues were up 66.6 compared to the year-ago quarter. Pro forma digital revenues were up 15.2% compared to the second quarter of 2013.

“Our expanded broadcast portfolio drove overall company margin expansion during the quarter, as we continue to transform Gannett into a higher margin, higher growth business,” Gannett CEO Gracia Martore said in a statement.

Q1 Earnings: Tribune Broadcasting Revenues Up 67%

tribune broadcastingTribune Broadcasting revenues were $398.4 million in the first quarter of 2014, a 67% increase compared to the year-ago quarter.

The station group reported $55.6 million in retransmission revenues for the quarter, up 88% from Q1 2013. Advertising revenues were $304.3 million, up 1.2% year-over-year.

“In the first quarter of 2014 we demonstrated early signs of the strength of our new broadcast scale. As a consolidated business with the Local TV stations, revenues generated by  retransmission consent fees hit an all-time high for the Company,” Tribune CEO Peter Liguori said in a statement. “…We are also encouraged by the activity we are seeing in the political landscape and its prospects for advertising for the second half of 2014.”

Q1 Earnings: Sinclair Broadcast Revenues Up 48%

sinclair logoSinclair Broadcast Group reported $373.9 million in net broadcast revenues for the first quarter of 2014, a 47.8% increase compared to the year-ago quarter.

Operating income for the quarter was $81 million, up 27.2% from the prior year period. Political revenues were $6.1 million compared to $0.9 million in the first quarter of 2013. Sinclair reports $8.2 million in revenues generated by the Super Bowl, and $3.7 million in revenues generated by the Sochi Olympics.

“There were many positives in the first quarter that reflect our solid underlying fundamentals, despite the slower than usual start to the year due to the impact of the severe and frigid weather in many of our markets,” Sinclair president and CEO David Smith said in a statement. “The first quarter benefited from incremental Super Bowl, Olympic and retransmission consent fee revenues, while political revenues exceeded expectations. We also benefited from lower television operating expenses across many of our stations. Our main focus now is on closing the Allbritton station acquisition and lobbying to reform broadcast ownership regulatory inequality.”

Q1 Earnings: Media General Net Operating Revenue Up 16%

media generalMedia General reported $144 million in net operating revenue for the first quarter of 2014, a 16% increase on the year-ago quarter. It was the first full quarter for the combined Media General and Young Broadcasting.

The company reported an increase in core local and national gross time sales, as well as automotive and telecommunications advertising. Media General stations “generated significant revenue” during the Sochi Winter Olympics and the NCAA Basketball tournament.

“Political revenues of $4.4 million were more than five times last year’s level, as we benefited especially from the race in Florida’s 13th congressional district, near Tampa. Also, retransmission consent revenues grew nearly 50%, and digital media revenues rose 33%,” Media General president and CEO George L. Mahoney said in a statement.

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