Citing a Tampa economy that has seemingly plateaued, John Schauss, vice president of Media General market operations, today announced that the company is moving a number of executives out of its Tampa-based Florida division. According to The Tampa Tribune, those leaving Tampa are John Schueler, president of the Florida division; Denise Palmer, vice president of news; and Cathy Helean, vice president of marketing. Read more
Posts Tagged ‘Media General’
Media General announced today that its third quarter revenue was down 11% compared to the same period last year.
The company, which owns 18 network-affiliated stations that are located mostly in the Southeast, attributes the decline to a decrease in political advertising as well as the absence of BP image advertising related to last summer’s oil spill.
Even subtracting the $9.7 million of political advertising brought in during the third quarter last year, Media General’s 2011 Q3 broadcast revenues decreased 2.4%. Read more
The company, which owns 18 stations across the country including WFLA in Tampa and WJAR in Providence, announced that $70.35 million in broadcast revenue for the second quarter, down nearly 3% from the same period last year.
Media General blames the decrease in revenue on a decrease in political advertising. In a news release, president and CEO Marshall Morton pointed out that, if one excludes political advertising in both yeas, broadcast revenues actually increased 6.6%.
“Our television stations did an excellent job of replacing a large portion of last year’s Political revenues,” Morton said, adding that he expects stations to see a boost in political, as well as automotive, advertising during the second half of the year.
Calling it “a sign that traditional media business models continue to be in transition,” Media General CEO Marshall Morton announced to staff on Thursday that the company is requiring its employees to take 15 furlough days before the end of the year.
“In order to reach our cash flow goal for the year, which has again been lowered from our initial expectations, we must cut expenses in the second half of the year,” writes Morton in a memo obtained by Poynter. “One of the fastest ways to flow expense savings to the bottom line, without broad-based permanent layoffs, is a furlough program – something we had hoped we would not need to do this year.”
“I am very proud to have played a role in the station’s rich history,” Churchville said in announcing her retirement, calling WJAR’s staff “the best people in local television.”
Churchville began her career in TV at New York WABC, before moving on to work for a series of NBC stations. She worked as director of sales at Chicago’s WMAQ and later became vice president of sales at Philadelphia’s WCAU.
Reid Ashe, executive vice president and COO of Media General, which owns WJAR, described Churchville as “an accomplished professional and an inspiring leader.” “We will miss her and we wish her all the best,” he said.
Churchville’s final day with the station is set for June 30th. Video of the retirement announcement inside… Read more
Media General is expected to begin issuing layoffs next week across its news entities, which include 18 TV stations and 21 daily newspapers.
According to Eric Deggans of the St. Petersburg Times, Media General has informed employees that layoffs are coming at the company’s Florida news platforms, including the Tampa Tribune and NBC-affiliate WFLA.
In April, Media General reported a slight decline in first quarter revenue from its TV stations, but overall the company suffered a net loss of $25.8 million for the quarter.
So far Media General has not returned TVSpy’s requests for comment. A source tells Deggans, though, that the company will not cut “boots on the street.”
Media General, which operates 18 stations focused mainly in southeastern markets, announced today that first quarter TV revenue had dropped 2.6% compared to the same period last year.
In its earnings report, Media General pointed to the same factors that Gannett mentioned in its first quarter announcement earlier this week: the absence of the Olympics on NBC-affiliates and the Super Bowl on CBS-affiliates caused a dip in revenue compared to 2010.
“We were pleased that our Broadcast television stations continued their strong performance,” said Marshall Morton, Media General’s president in CEO, putting a positive spin on things. “Total Broadcast revenues decreased $1.8 million, or 2.6 percent, from last year, despite the absence of $7.6 million in Olympics revenues and nearly $1 million in Super Bowl revenues.”
The company also reported that its local media websites experienced a strong gain in revenue, pulling in 20% more than the previous year.
Media General, which owns stations throughout the southeast as well as Ohio and Rhode Island, announced this week that its fourth quarter TV revenue was up by nearly 29%.
Much of this spike can be attributed to the influx of political advertising that occurred in October and November. During the quarter, Media General brought in $24 million in political advertising, compared to $3.7 million last year.
“Our television stations, most of which are rated number one or two in their markets, were in an excellent position again this year to attract political advertising dollars,” said Marshall N. Morton, Media General’s president and CEO.
Norton notes, though, that Media General also “experienced strengthening in our overall broadcast advertising as well.” Local time sales increased by roughly 6% and national time sales also say a small bump.