Graham Media Revenue Rises 6% in 2Q

Graham Media Group’s 2Q 2016 revenue rose to $96.5 million, up 6% from the 2Q 2015, the company reported.

In a statement, Graham credited the lift to a $5.3 million increase in retransmission revenues. 

The station group’s operating income during the three months ending June 30 was also up, increasing 5% to $44.2 million, the company said.

The most recent lifts bring the total revenue for the first six months of 2016 to $188.5 million, an 8% increase from the first two quarters of 2015, Graham said. A total boost of $10 million in retransmission revenue and $2.7 million increase in political money fueled the increase, Graham said.  

Operating income for the first six months of 2016 increased 6% to $85.4 million.

Highlights of the quarter include Graham striking an agreement in May with Nexstar and Media General to acquire WSLS, the NBC affiliate in Roanoke, Va., and CW affiliate WCWJ in Jacksonville, Fla. for $60 million cash.