Meredith’s local media group, which encompasses 12 stations and their websites, saw respectable gains in fiscal 2011, driven by an overall increase in automotive advertising as well as a big boost from political advertising. Meredith set a company record for political advertising revenues last year with $35 million, sparked by strong spending at stations in Hartford, Las Vegas, Portland, and Kansas City.
Non-political advertising revenues were up 4% for the year at $256 million.
For the fourth quarter, Meredith’s local media group saw revenues of $78 million–a $1 million increase over the same period last year. Although political advertising dipped $3.2 million from Q4 2010, non-political advertising was up 3%.