McGraw Hill TV Revenue Up 24%

By Michael Malone
( Broadcasting & Cable )
published

McGraw-Hill's broadcast revenue was $23.6 million
in the third quarter, a 23.5% increase over the same quarter a year ago. Political,
national and local sales all improved in the quarter.

The company's overall net income for the third quarter
increased 13% to $379.9 million. Revenue grew by 5.5% to $1.98 billion.

Chairman/President/CEO Harold McGraw III cited a "host of
contributors" to the company's third quarter gains, including double-digit
increases in the sales of digital products and services in higher education and
professional markets.

McGraw-Hill owns four ABC affiliates, including those in
Denver and Bakersfield, Calif.

Its Information & Media division posted revenue of
$227.8 million for the quarter, a 4.7% decline.Operating profit
increased by 55.1% to $45.8 million in the quarter.

Michael Malone
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.