Journal TV Revenue Up 33%

Journal Communications reported fourth quarter revenue of $122 million, up 13.6% over the same quarter in the previous year. Television revenue of $60 million was up nearly 33%, while radio was up 7.7% to $22.1 million. Journal's publishing revenue was down 4%.

Journal changed its fiscal year to a calendar year effective in the fourth quarter of 2014, adding three days to the most recent fourth quarter. Excluding the change in the fiscal year, television revenue increased 29.9%.

While local and national TV revenue were flat, retransmission revenue, up 65.2%, and political revenue paced Journal to a "solid" quarter, said Steven Smith, chairman and CEO.

"Results were driven by political and issue advertising, gains in retransmission revenue and local revenue growth in radio," he said. "Consolidated revenue of $122 million was up 13.6% compared to 2013, though up 11.1% excluding the change in our fiscal year in 2014."

Journal's overall 2014 revenue was $428.4 million, up 7.8% over the previous year.

The company is working on a merger with Scripps that will separate print and broadcast outfits into separate companies. Shareholders in both Scripps and Journal have signed off on the pact.

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.