McGraw-Hill Revenue Up 22%

McGraw-Hill reported fourth quarter revenue of $28.4 million, up 21.7% over the same quarter the year before. Broadcasting revenue grew 18.3% for the year.

"Strong political advertising and improvement in national and local-time sales were key factors in the Broadcasting Group's fourth quarter and full-year performance," said McGraw-Hill in a statement.

Overall revenue in the fourth quarter grew by 4.2% to $1.5 billion. McGraw-Hill's net income in the fourth quarter declined 8.0% to $153.8 million, compared to 2009. On an adjusted basis, net income in the fourth quarter increased by 6.2% to $170.5 million, compared Q4 2009.

"Double-digit EPS growth and the maintenance of a rock-solid financial position were the hallmarks of our performance in 2010," said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies.

McGraw-Hill Broadcasting operates KGTV San Diego, KERO Bakersfield, KMGH Denver, WRTV Indianapolis (ABC) and Azteca America affiliates in Denver, Colorado Springs, San Diego and Bakersfield.

Michael Malone

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.