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Posts Tagged ‘Q2 Earnings’

Q2 Earnings: Gray TV Revenue Down 11%

Gray Television reported $84.3 million in total revenue during the second quarter of 2013, a decline of 11% compared to the year-ago quarter.

Local and national advertising revenue both increased 5% compared to the year-ago quarter. Internet advertising revenue was down, as was political advertising, which fell 94% in the non-election year. Retransmission revenue rose 13% compared to the second quarter of 2012.

“We are pleased with our operating results for the second quarter of 2013. We experienced period over period increases in national advertising, local advertising and retransmission consent revenue.  Our period over period decrease in total revenue was primarily due to the expected decrease in political advertising revenue,” the company said in a statement.

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Q2 Earnings: Media General Total Revenue, Excluding Political, Up 5%

Media General reported total gross revenues, excluding political, increased 4.7% year-over-year in the second quarter of 2013. Political revenues experienced an expected decline, from $7.5 million to $1 million, in the non-election year.

The company reported $5 million of operating income in the second quarter of 2013, down from $17 million in the second quarter of 2012. Media General attributed the year-over-year decline to significant expenses, including $7.2 million in expenses relating to its merger with Young Broadcasting, and an 86% decline in political revenue.

Cable and satellite retransmission revenue increased 38%, while digital revenues were up 17%.

“Our stations are doing a good job this year replacing last year’s robust Political revenues with new revenue initiatives and business development programs,” George L. Mahoney, president and CEO of Media General, said in a statement.

Q2 Earnings: Sinclair Net Broadcast Revenues Up 28%

Sinclair Broadcast Group reported $279.3 million in net broadcast revenues for the second quarter of 2013, a 28.4% increase on the year-ago quarter. The company had operating income of $84.3 million for the quarter, compared to $71.9 million in the second quarter of 2012.

Local net broadcast revenues, which includes local time sales, retransmission revenues and other broadcast revenues, were up 35.9% in the second quarter. National broadcast revenues were up 7%. Political revenues declined in the non-election year: the company reported $1.5 million this quarter, compared to $11.4 million for the year-ago quarter.

“The first half of 2013 has been very successful for the Company, not only with respect to the Company’s results but on growing our platform through additional acquisitions of broadcast assets, especially our most recently announced planned acquisitions of the Allbritton stations and their local news cable/satellite channel,” Sinclair president and CEO David Smith said in a statement. “…We are excited about the successes we have achieved and the additional value that we have created and anticipate creating for our shareholders.”