Acme Revenues Down 3% in Fourth Quarter

By Michael Malone
( Broadcasting & Cable )
published

Acme Communications reported fourth quarter 2011 revenue of $3.4 million, down 3% from the same quarter in 2010. In May of 2011, Acme completed the sale of WBXX Knoxville, WBDT Dayton and WCWF Green Bay-Appleton. Earlier this year, Byrne Acquisition Group acquired Acme's WBUW Madison. The results of those stations are treated as discontinued operations.

Continuing operations consist of KWBQ and KASY in Albuquerque-Santa Fe along with a satellite station in Roswell (KRWB), and The Daily Buzz, LLC.

Acme's net income for the fourth quarter of 2011 was $2 million, compared to a $5.3 million net loss for the fourth quarter of 2010.

"We continue to be focused on our exit strategy of liquidating our remaining assets," said Doug Gealy, Acme president and CEO, "and will continue to further reduce our corporate infrastructure."

Michael Malone
Michael Malone

Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.