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Posts Tagged ‘Q1 Earnings’

Q1 Earnings: Tribune Broadcasting Revenues Up 67%

tribune broadcastingTribune Broadcasting revenues were $398.4 million in the first quarter of 2014, a 67% increase compared to the year-ago quarter.

The station group reported $55.6 million in retransmission revenues for the quarter, up 88% from Q1 2013. Advertising revenues were $304.3 million, up 1.2% year-over-year.

“In the first quarter of 2014 we demonstrated early signs of the strength of our new broadcast scale. As a consolidated business with the Local TV stations, revenues generated by  retransmission consent fees hit an all-time high for the Company,” Tribune CEO Peter Liguori said in a statement. “…We are also encouraged by the activity we are seeing in the political landscape and its prospects for advertising for the second half of 2014.”

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Q1 Earnings: Sinclair Broadcast Revenues Up 48%

sinclair logoSinclair Broadcast Group reported $373.9 million in net broadcast revenues for the first quarter of 2014, a 47.8% increase compared to the year-ago quarter.

Operating income for the quarter was $81 million, up 27.2% from the prior year period. Political revenues were $6.1 million compared to $0.9 million in the first quarter of 2013. Sinclair reports $8.2 million in revenues generated by the Super Bowl, and $3.7 million in revenues generated by the Sochi Olympics.

“There were many positives in the first quarter that reflect our solid underlying fundamentals, despite the slower than usual start to the year due to the impact of the severe and frigid weather in many of our markets,” Sinclair president and CEO David Smith said in a statement. “The first quarter benefited from incremental Super Bowl, Olympic and retransmission consent fee revenues, while political revenues exceeded expectations. We also benefited from lower television operating expenses across many of our stations. Our main focus now is on closing the Allbritton station acquisition and lobbying to reform broadcast ownership regulatory inequality.”

Q1 Earnings: Media General Net Operating Revenue Up 16%

media generalMedia General reported $144 million in net operating revenue for the first quarter of 2014, a 16% increase on the year-ago quarter. It was the first full quarter for the combined Media General and Young Broadcasting.

The company reported an increase in core local and national gross time sales, as well as automotive and telecommunications advertising. Media General stations “generated significant revenue” during the Sochi Winter Olympics and the NCAA Basketball tournament.

“Political revenues of $4.4 million were more than five times last year’s level, as we benefited especially from the race in Florida’s 13th congressional district, near Tampa. Also, retransmission consent revenues grew nearly 50%, and digital media revenues rose 33%,” Media General president and CEO George L. Mahoney said in a statement.

Q1 Earnings: LIN Media Net Revenues Up 18%

lin media logoLIN Media reported $166.2 million in net revenues for the first quarter of 2014, an 18% increase compared to the year-ago quarter.

Local revenues, which include net local advertising revenues, retransmission consent fee revenues and station website revenues, were up 9% for the quarter. Net national revenues, net political revenues and operating income were also up.

“Our results were driven by an increase in television advertising, higher pay-television subscriber fees and significant growth in digital revenues, which now comprise 15% of our net revenues and has its own reportable segment,” LIN Media president and CEO Vincent L. Sadusky said in a statement. “Our diverse group of assets helped us maximize revenues from the winter Olympics and the Super Bowl and achieve the high end of our first quarter revenue guidance. I am excited about the expansion of our digital portfolio with the addition of Federated Media and the future scale and synergy opportunities from the pending merger with Media General.”

Q1 Earnings: Meredith Local Media Group Revenue Up 14%

meredith_1Meredith Corp. reported $98 million in local media group revenues during the first quarter of 2014, a 14% increase compared to the year-ago quarter.

Operating profit was up 11% to $27 million. According to Meredith, growth “was driven by increased retransmission-related revenues and strong performance from Meredith television stations in Nashville, Phoenix and Las Vegas.” Non-political advertising and digital advertising both increased, as did operating expenses.

“We’re pleased to deliver another quarter of record operating results,” Local Media Group President Paul Karpowicz said in a statement.  “We’re excited to have KMOV in St. Louis as part of the Meredith portfolio.  KMOV’s addition – along with improving non-political advertising, growth in digital advertising and an anticipated robust political advertising cycle – point to a strong calendar 2014 for our business.”

Q1 Earnings: Gannett Same-Station Revenue Up 19.6%

gannett logoGannett Co. reported a 19.6% increase in broadcasting revenues on a same-station basis for the first quarter of 2014.

The station group reported a 6.5% increase in core revenues, driven by $41 million of advertising associated with the Sochi Winter Olympics. This was partially offset by the loss of Super Bowl revenues that aired on CBS stations in the first quarter of 2013.

On a same-station basis, retransmission revenues were up 66.4%, totaling $87.5 million for the quarter. Political ad revenue was also up for the quarter, as were digital revenues in the broadcast segment.

“An outstanding performance by our new broadcast stations fueled double-digit increases in both revenue and profitability in our Broadcast Segment and contributed to total company pro forma revenue growth and a robust level of free cash flow in the first quarter,” Gannett CEO Gracia Martore said in a statement. “Our Broadcast group achieved exceptional ratings, particularly throughout the Sochi Winter Games as Gannett stations took the top two spots in prime time and in every Olympic day-part among major market NBC stations.”