Hearst-Argyle Television and LIN TV Corp. cited the lack of political advertising this year as key factor in ratings and profit declines for the third quarter of this year. Both companies issued their third quarter earnings results last week.
Hearst-Argyle’s operating income was down 20% to $51.2 million on a 5% revenue dip to $167.3 million for the quarter. LIN reported a 27% drop in operating income to $20.7 million on a 7% revenue decline to $85.8 million.
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