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Posts Tagged ‘Meredith’

Meredith’s Local Media Group Revenue Up 39% to $125 Million in Fiscal First Quarter

meredith_1Meredith Corp.’s Local Media Group has reason to celebrate. According to a new report, the company’s 15 local television stations generated $125 million in total revenue in the first quarter of fiscal 2015, which is up 39% from the same period a year ago.

The uptick was fueled in part by political advertising, digital ads and the company’s recent acquisition of KMOV in St. Louis and KTVK in Phoenix.

Here’s a more detailed look at the Local Media Group’s first quarter performance, compared to last year:

  • Total advertising revenues increased 43 percent to $93 million, a first quarter record
  • Political advertising revenues were $13 million
  • Non-political advertising revenues grew 24 percent to $80 million, benefiting from the recent acquisitions and strong digital advertising revenue performance
  • Other revenues and operating expenses both increased, due primarily to growth in retransmission revenues from cable and satellite television operators and higher programming fees paid to affiliated networks

Meredith Local Media Group president Paul Karpowicz was certainly happy with the results. “This was our first full quarter operating both KTVK in Phoenix and KMOV in St. Louis, and they are great additions to the Meredith portfolio,” He said. “We were also very pleased to see political advertising strengthen as the quarter progressed.”

You can view the full report, with details on Meredith’s National Media Group and more, here.

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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.”

Meredith CEO Reveals Aggressive Growth Plan for Local Station Group

meredith logo_304x200Saying he was putting together what he called a “hit list” of stations, Meredith CEO Stephen Lacy told Reuters Monday, his company is looking to grow its local TV station group.

Lacy said when Meredith lost out to Sinclair in its deal for Allbritton’s TV stations and to Tribune in its acquisition of Local TV it decided to take a different route. “We were always second,” Lacy told Reuters. “We are going to take a different approach and stay out of the auction hoopla.”

Lacy revealed Meredith’s strategy is more straight forward, “We are putting together a hit-list of (TV) properties and working with owners.”

Meredith’s target list includes TV stations in the top 25 markets in the United States that have the No. 1- or No. 2-rated local news broadcasts.

“All the money is in news,” Lacy said, adding that 40 percent of all advertising dollars are directed toward local news casts. Read more

Q2 Earnings: Meredith Local Media Group Revenues Rise 9%

Meredith Local Media Group reported $92 million in revenue in the second quarter of 2013, up 9% from the year-ago quarter.

Operating profit for the quarter rose to $28 million, “as higher retransmission-related revenues were partially offset by higher programming fees paid to affiliated networks, and $3 million less of political advertising revenues,” according to the company.

In fiscal 2103, Local Media Group revenues rose 19% to a record high of $376 million. Operating profit was also a record high $124 million, a 41% increase on the year-ago quarter. Non-political advertising revenues declined slightly, but automotive, furnishings and media categories all improved. The company also reported $39 million in political revenues, another record for Meredith.

“Our record financial performance speaks to the fundamental strength of our television broadcasting business,” Local Media Group president Paul Karpowicz said in a statement. “We continue to engage viewers with compelling content across media platforms to position ourselves for ongoing growth.”

Cubes: A ‘Better’ Tour of Meredith

The MediabistroTV crew got an inside look at Meredith’s Midtown Manhattan lair.  While you may know Meredith for its 12 local TV Stations, it also publishes magazines like Better Homes and Gardens and Fitness and also produces a nationally syndicated lifestyle show called, the “Better Show.”

“Better” co-host Audra Lowe showed off Meredith’s state-of-the-art TV studio that comes complete with a Mohawk red carpet that can withstand the nastiest celebrity spill, a green room the size of some Manhattan apartments and a test kitchen where Meredith’s staff of chefs dream up recipes to rival what mom used to make, only ‘Better.’

For more mediabistroTV videos, check out our YouTube channel, and be sure to follow us on Twitter: @mediabistroTV

Meredith Revenue Up 10% on Strength of KPHO, KVVU, WSMV

Meredith today reported its fiscal 2012 third quarter earnings, announcing a 10% increase in total revenue during the period for its local media group, which consists of 12 stations around the country, including WGCL in Atlanta and KPHO in Phoenix.

Meredith’s local media group brought in $78 million during the period, with a 5% rise in non-political advertising revenue and a 70% increase in digital advertising.

“Our Local Media group is doing an excellent job of increasing ratings and translating them into advertising revenues, consistently ranking us among the leading station groups in advertising revenue gains,” Meredith local media group president Paul Karpowicz said in a statement. Read more

Study Says Online Ad Revenue Strong for Local TV

According to a new study from Borrell Associates, local television stations racked up $1.97 billion in online ad revenue in 2011, a 41 percent increase over the previous year. The study predicts an even better 2012. Broadcasting & Cable has details:

Stations are forecasted to blow past the $2 billion threshold this year. Borrell Associates forecasts $2.7 billion in local TV online revenue, a 35% increase over 2011. Borrell revealed the numbers in its new Benchmarking Local Online Media survey.

“Local TV broadcasters continue to grow online ad revenue at an impressive clip,” said the study, which singled out Gray Television and Meredith for growing revenue at a 50% rate in the last half of 2011, along with LIN, Nexstar and Gannett for their digital gains as well.

Hena Daniels Returns to WFSB After Stint with WGCL

Hena Daniels has returned to WFSB after a two-year run with WGCL in Atlanta.

Daniels first joined the Hartford CBS-affiliate in 2005, working as a general assignment reporter before becoming a weekend anchor in 2008. She left in 2010 for a reporting job at WGCL (both WFSB and WGCL are owned by Meredith).

Daniels had been filling in at the WGCL anchor desk recently but she says that the offer of a full-time anchor spot is what persuaded her to return to WFSB.

“I’m thrilled to be back,” Daniels told TVSpy today via email. Read more

WADL Fires Kevin O’Brien After P.I. Finds ‘Violations of Numerous Corporate Policies’

After hiring a retired FBI agent to conduct a thorough investigation, WADL fired Kevin O’Brien this week, just two months after the Detroit independent station hired him as a consultant to “aggressively make changes.”

WADL issued a press release this week announcing O’Brien’s termination, saying that he had violated “numerous corporate policies.”

“I am deeply saddened that in this day and age this type of behavior still exists,” WADL CEO Kevin Adell said in a statement, without going into specifics.  “I have zero tolerance for this, and I will personally disgorge any money paid to Mr. O’Brien as a consultant for the past two months.”

So what happened? Read more

Reporting Earnings, Meredith Points to Success in Atlanta, Hartford, Las Vegas, Portland

Meredith, which owns 12 stations across the country, announced its second quarter earnings today, reporting a 13.5% drop in revenue for its local media group.

Meredith’s local unit took in $84 million for the period, compared to $97 million for its Q2 last year.  The company attributes the decline to a decrease in political advertising compared to a year ago–Meredith recorded  $21 million less of political advertising revenue for the quarter.

Non-political advertising revenues rose 9% in the second quarter, with Meredith’s stations in Atlanta (WGCL), Hartford (WFSB), Las Vegas (KVVU), and Portland (KPTV) performing the best. Read more

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