Journal Communications reported television revenue of $46 million in the first quarter, up 12.6% from the same quarter a year before. Radio revenue slipped 4% to $15.2 million.
Overall company revenue was $96.6 million, up 3.7% for the quarter. Journal’s digital revenue of $4.6 million grew 5.8%. Operating earnings of $12 million increased 43.7%.
Retransmission consent revenue was $9.8 million in the quarter, up 85.6%.
“We are pleased to report that Journal Communications revenue grew nearly 4% in the first quarter benefiting from the Winter Olympics and growth in television retransmission revenue,” said Steven J. Smith, chairman and CEO of Journal Communications. “In addition, publishing advertising revenue was essentially flat for the quarter.”
Journal’s publishing segment had first quarter revenue of $35.6 million, down 2.7% from the same quarter a year before.
Total television segment revenue, excluding political, Olympics and retransmission revenue was $33.1 million, down 5.6%.
Television’s local advertising revenue, excluding political and Olympics revenue, decreased 2.9%, primarily due to a decrease in professional services and media advertising. The segment’s digital revenue, which is reported in local revenue, was $1 million, up 17.9%. National advertising revenue, excluding political and Olympics, decreased 13.7%, primarily due to decreases in automotive and restaurant advertising.
In the second quarter of 2014, excluding political advertising revenue, Journal expects total television revenue to be up in the low to mid-teens.
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