Journal TV Revenue Up 23%
Journal Communications announced third quarter revenue of $105.1million, up 8.5% from the same quarter in the previous year. Television revenue grew 22.8% while radio revenue increased 5.1%.
Television retransmission revenue of $9.6 million was up 82%.
“Journal benefitted from continued growth in television retransmission revenue along with significant political and issue advertising spending in a number of our markets,” said Steven J. Smith, chairman and CEO of Journal Communications.
“Our focused broadcast sales efforts grew both television and radio revenue, excluding retransmission and political, by approximately 3% and drove television and radio digital revenue up 22% and 31%, respectively,” he added.
Journal Communications and E.W. Scripps Company expect to close their merger, announced in July, in the first half of 2015. The broadcast outfit will retain the Scripps name and remain in Cincinnati. The merged newspaper company will be called Journal Media Group and will be headquartered in Milwaukee.
Journal publishing revenue was down 5.4% in the third quarter.
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Michael Malone, senior content producer at B+C/Multichannel News, covers network programming, including entertainment, news and sports on broadcast, cable and streaming; and local broadcast television. He hosts the podcasts Busted Pilot, about what’s new in television, and Series Business, a chat with the creator of a new program, and writes the column “The Watchman.” He joined B+C in 2005. His journalism has also appeared in The New York Times, The Philadelphia Inquirer, Playboy and New York magazine.