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Q3 Earnings: Journal Broadcast Group Revenue Up 2%

journal broadcast group logoJournal Broadcast Group reported $39.8 million in revenue from television stations for the third quarter of 2013, an increase of 2.2% on the year-ago quarter. Excluding political and Olympic revenue, the company reported a 42.8% increase in revenue from television stations.

Local advertising revenue increased 40.9%, largely due to increases in automotive and supermarket advertising, while national advertising revenue increased 35.1%. Operating earnings decreased 53.8% to $4.6 million, which Journal attributed to lower political and Olympic advertising, as well as the impact of the Time Warner Cable dispute.

“Although we were challenged by a protracted retransmission consent agreement negotiation with Time Warner Cable, which took our television stations off of their system in four of our markets for eight weeks, we are pleased with the result of the negotiation,” Journal said in a statement.

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