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Posts Tagged ‘Journal Communications’

Q2 Earnings: Journal’s Television Revenue Rises 22.5%

Journal Communications reported $43 million in revenue from television stations during the second quarter of 2013, up 22.5% (6.9% on a same-station basis) from the year-ago quarter, excluding political revenue.

Political advertising revenue dropped from $5.2 million in Q2 2012 to $0.2 million in the non-election year. Local and national advertising revenue, excluding political, were up 43.2% and 31%, respectively. On a same-station basis, local ad revenue was up 6.8% and national ad revenue declined 1%.

Operating earnings from Journal’s television station groups were $8.5 million, a decrease of 2.2% on the year-ago quarter (48.2% on a same-station basis). Both declines were due to “the loss of high-margin political revenue in 2013,” according to the company’s press release. Operating expenses increased 30.6%, (4.9% on a same-station basis), excluding acquisition costs, due to increases in network fees and employee-related costs.

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Journal’s TV Revenue Rises 43% in Q1

Journal Communications’ television station revenue was $42.3 million in the first quarter of 2013, an increase of 43.4% on the year-ago quarter. The first quarter revenue increased 7.6% on a same station basis.

While political advertising revenue was down due to an expected decrease in political spending, local advertising revenue increased 36.7% and national advertising revenue (excluding political) increased 50.1%. Local advertising revenue was strong in the automotive category and national advertising revenue was strong in the media and restuarant categories.

Operating earnings from Journal’s stations were $7.1 million, an increase of 84.3%. Operating expenses increased 37.2%, primarily because of increases in network fees and employee-related costs, according to Journal.

Q3 Earnings: Journal Communications TV Revenue Up 40%

Journal Communications announced revenue from its 15 television stations increased +39.5% in the third quarter of 2012.

Political and issue revenue in the third quarter was $8.6 million and Olympic advertising was $2.7 million, the company said. Core local advertising revenue decreased -3% due to declines in restaurant and home advertising, as well as the displacement impact of political and issue advertising in certain markets. Core national advertising revenue increased +18.2% due to automotive and media advertising.

Journal also completed an agreement this quarter to purchase WTVF in Nashville, which chairman and CEO Steven J. Smith said in a statement “advanced our strategy of adding broadcast assets to the business.”

Journal Communications to Buy WTVF for $215M

Journal Communications, Inc. announced today that its Journal Broadcast Group has entered into a definitive agreement to purchase Nashville’s CBS affiliate, WTVF, from Landmark Media Enterprises, LLC.

“We are especially pleased to reach an agreement to purchase NewsChannel 5 in Nashville,” said Steven J. Smith, Chairman and CEO of Journal Communications. “This station will be a cornerstone asset within Journal Communications. WTVF TV is an exceptional local news station with an extraordinary staff that demonstrates its commitment to Nashville every single day. We are delighted to welcome NewsChannel 5′s outstanding team to Journal.”

In October 2008, WTVF looked like it was being sold to Bonten Media Group.  But Landmark terminated the deal when Bonten notified Landmark it wouldn’t be able to close the deal on time.

Read more

Bus Driver Sues WTMJ Reporter For Ambushing Her About Prostitution Past

A Milwaukee school bus driver is suing WTMJ reporter Robert Koebel, as well as the station’s owner, Journal Communications, over an investigative report Koebel did in which he publicly confronted the driver about her prostitution past.

Earlier this year, Koebel did background checks on a bunch of Milwaukee school bus drivers and found that one, Melissa Dumas, was busted by an undercover police office several years ago and convicted on a misdemeanor prostitution charge. Koebel also found that Dumas was arrested over a decade ago on marijuana possession.

The veteran reporter, who joined WTMJ last year, then confronted Dumas in a parking lot about her past (video after the jump). Read more

Journal TV Revenue Up 7.5%

Journal Communications’ 14 TV stations brought in $29.5 million during the first quarter, a 7.5% increase compared to the $27.5 million in revenue from the same period last year.

Journal’s TV stations saw increases in both local and national advertising during the first quarter this year.  Thanks to an increase in automotive advertising, core local advertising was up 2.6%.  And core national advertising increased 18.1% due to an influx of communications and financial advertising.

Political advertising was also up for the quarter:  $1.2 million compared to $0.8 million last year.

Journal Reports 15.4% Dip in TV Revenue

Journal Communications, the owner of Journal Broadcast Group, which operates 13 TV stations in 12 states, today reported a 15.4% drop in revenue from its stations for the fourth quarter, compared to the same period in 2010.

Journal also reported a 7.5% decrease in TV station revenue for the full year of 2011.

The Q4 revenue dip was driven by a significant decrease in political advertising for the period, compared to 2010 numbers.  Journal TV stations brought in $0.7 million in political advertising during the fourth quarter, compared to $8.8 million in 2010. Read more

Journal Announces 6.8% Dip in Q3 Revenue

Journal Communications, which owns 14 TV stations across the country through the Journal Broadcast Group, announced a 6.8% decline in TV revenue for the third quarter, compared to the same period last year.

“Journal Communications remained focused on growing our local market revenue share in a soft economic environment in the third quarter,” said Journal Communications CEO Steven Smith, trying to put a positive spin on the results. “While total Broadcast revenue was down, core revenue, excluding political and issue advertising, was up.”

Journal brought in $27.9 million in revenue from its TV stations for the third quarter, a notable decrease from the $30 million for Q3 last year.  Excluding political advertising revenue, TV revenue was actually up 1.6% due to a slight boost in retail and automotive advertising.