Barrington Broadcasting reported fourth quarter net revenues of $32.5 million, up 7.2% from the previous year's fourth quarter. Gross revenues for the quarter were $38.1 million, 7.6% better than the same quarter the year before.
The increases were due in part to an upsurge in political revenue and Barrington's operation of Tucker Broadcasting's Traverse City duopoly WGTU and WGTQ, which commenced April 1, 2008. Local revenue was down 16.2% in the quarter, while national dropped 22.5%.
Net revenues for the full 2008 were up 6.1% to $119.4 million, and gross revenues for the year were up 6.2% to $139.8 million.
"In the fourth quarter, Barrington benefited from year over year incremental political revenues which offset the increased weakness in local and national advertising as a result of the state of the economy," said Barrington CEO K. James Yager. "We have increased our sales presence in our markets and we continue to focus on a more efficient cost structure by seeking to constantly optimize station-level operations."
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