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Gray Television Revenue Down 3% in Q1

Gray Television total revenue was $2.5 million in the first quarter of 2013, a 3% decrease from the year-ago quarter. The decline was “due to the expected decreases in political advertising and consulting revenue, offset, in part, by increased retransmission consent revenue and local and national advertising revenue,” according to Gray.

Local advertising revenue increased 1% to $46.4 million and national advertising revenue increased 3% to $13.4 million. Internet advertising revenue was flat and retransmission revenue increased 14%, according to the company.

In a statement, Gray Television said the company is  “pleased with our operating results for the first quarter of 2013.”

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