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Posts Tagged ‘Harold McGraw III’

Scripps Completes Purchase of 9 McGraw-Hill Stations

Nearly three months after the E.W. Scripps company announced the acquisition of nine stations from The McGraw Hill Company, the purchase is complete.

The FCC approved the $212 million deal earlier this month. In a statement, McGraw-Hill chairman, president and CEO Harold McGraw III said he was pleased with the Scripps purchase.

“I thank the talented men and women of these stations for their valuable contributions to McGraw-Hill and know they are joining a respected media organization where they will continue delivering news, insights and entertainment,” he said.

Stations involved in the deal are ABC-affiliates KMGH in Denver, KGTV in San Diego, KERO in Bakersfield and WRTV in Indianapolis, as well as four Azteca America affiliates in Denver, Fort Collins, Colorado Springs, San Diego and Bakersfield.

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McGraw-Hill Reports 10.2% Boost in First Quarter

McGraw-Hill announced today that its first quarter broadcasting revenue was up 10.2% compared to the same period last year.

The company, which owns four ABC-affiliates across the country including Denver’s KMGH and San Diego’s KGTV, brought in $20.6 million during the first quarter and is attributing the boost to growth in automotive advertising and an increase in retransmission revenue.

“A promising year is off to a solid start,” said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies, in announcing the financial results.

Retrans money and advertising growth helped McGraw-Hill offset a decline in political advertising from the previous year. As well, McGraw-Hill, with only ABC-affiliates in its stable, avoided the declines in revenue recently reported by such station owners as Media General and Gannett, whose NBC-affiliates had the Olympics last year and CBS-affils had the Super Bowl.

McGraw-Hill Saw 18% Increase in 2010 Broadcast Revenue

McGraw-Hill announced today that fourth quarter revenue for its Broadcasting Group was up 21.7%.

Although McGraw-Hill‘s broadcasting unit benefitted from strong political advertising in the fourth quarter, it saw significant revenue growth for the year as a whole.

The company, which owns ABC-affiliates in Denver, San Diego, and Indianapolis, brought in $96.0 million in 2010, with $28.4 million coming in the fourth quarter.

Overall, McGraw-Hill’s Broadcasting Group increased revenue by 18.3% in 2010.

“Double-digit EPS growth and the maintenance of a rock-solid financial position were the hallmarks of our performance in 2010,” said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies.