Gannett's broadcasting revenues for the fourth quarter were $232.8 million, a 27.1% increase over the same quarter a year ago. Gannett includes its Captivate elevator-video channel in the broadcasting category; the media giant cited "strong advertising demand bolstered by higher political spending and a significant increase in Captivate revenues" as factors in broadcasting's surge.
Television revenues at Gannett's 23 stations were $220.2 million in the quarter, well up from the $174.5 million in the same quarter a year before. Retransmission revenues were up almost 16% to $16.4 million in the quarter. Ad revenues were up 1.2% when excluding political.
"Broadcasting had an outstanding year in terms of ratings, revenue and profitability," said Gannett Chairman/CEO Craig Dubow. "Operating income in broadcasting in 2010 grew over 50% and significantly exceeded 2008 results, which was a presidential election year."
Gannett's publishing segment operating revenues were $1.1 billion in the fourth quarter, a decline of 4.7% over the same quarter last year.
Gannett warned that the absence of Olympic-generated revenue on its stations in the first quarter, compared to the first quarter of 2010, will negatively affect the quarter's earnings.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.