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Posts Tagged ‘Steven J. Smith’

Q4 Earnings: Journal Broadcast Group Revenue Down 13%

journal broadcast group logoRevenue for Journal Broadcast Group was $65.7 million in the fourth quarter of 2013, a 13.1% drop compared to the year-ago quarter. The drop was attributed to a lack of political ad revenue and Olympic revenue: political advertising was $0.4 million and Olympic advertising was $1.6 million for the full year of 2013, compared to $19.9 million and $38 million, respectively, in 2012.

On a same-station basis excluding the extra week of 2012 and political revenue, total revenue was up 10.6%, local revenue was up 2.1% and national revenue was up 11.4%. Retransmission revenue was also up: Journal Broadcast Group reported $5.9 million for the fourth quarter of 2013 compared to $2.9 million in the year-ago quarter.

“Journal Communications delivered a solid fourth quarter in a non-political year, driven by gains in core revenue in our broadcast group and improving advertising revenue trends in publishing,” Steven J. Smith, chairman and CEO of Journal Communications, said in a statement.

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Journal Communications TV Revenue Up 76% in Q4

Journal Communications reported television revenue increased to $55.8 million in the fourth quarter of 2012, a increase of 76.2% compared to the year-ago quarter.

The company reported $19.9 million in political revenue for the quarter compared to $700,000 in the fourth quarter of 2011. On a same-station basis excluding political advertising, total revenue was flat and local revenue decreased 3.1% due to the crowding-out effect of political ads. National revenue increased 6%.

“Journal Communications posted excellent results in the fourth quarter with consolidated revenue of $124.5 million, up 31%, led by record political spending in the Broadcast group,” Journal Communications chairman and CEO Steven J. Smith said in a statement.

Q3 Earnings: Journal Communications TV Revenue Up 40%

Journal Communications announced revenue from its 15 television stations increased +39.5% in the third quarter of 2012.

Political and issue revenue in the third quarter was $8.6 million and Olympic advertising was $2.7 million, the company said. Core local advertising revenue decreased -3% due to declines in restaurant and home advertising, as well as the displacement impact of political and issue advertising in certain markets. Core national advertising revenue increased +18.2% due to automotive and media advertising.

Journal also completed an agreement this quarter to purchase WTVF in Nashville, which chairman and CEO Steven J. Smith said in a statement “advanced our strategy of adding broadcast assets to the business.”