Journal Communications reported third quarter TV station revenue of $27.9 million, down 6.8% from the third quarter a year ago. Taking political advertising out of the equation, Journal reports that its station revenue was up 1.6%. Stations' local advertising was up 2.5% while national decreased 10.5%, due primarily to a decrease in automotive advertising.
Radio station revenue increased 2.7% to $19 million; political advertising was flat from last year's third quarter.
The two combined to make for a 3.2% decrease in broadcasting revenue to $46.9 million. Core broadcasting revenue, minus political, ticked up 2.2%.
"Journal Communications remained focused on growing our local market revenue share in a soft economic environment in the third quarter," said Steven Smith, chairman and CEO. "While total broadcast revenue was down, core revenue, excluding political and issue advertising, was up. On the publishing side, a challenging advertising revenue environment was offset by improved circulation revenue and a solid increase in commercial print and distribution revenue."
Journal forecasts core broadcast revenue to be up slightly in the fourth quarter, compared to the 2010 fourth.
Smith said "effective cost management remains a company-wide priority."
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