Media General reported third quarter revenue of $78.5 million, down
from the $93.8 million it posted in the previous third quarter.
Political revenues in the third quarter were $1 million, compared with
$19.6 million in 2012. Station production expenses rose 1.6% in the
quarter, due primarily to increased network affiliate fees, including
Operating income was $8.2 million, compared
with $22.5 million in the third quarter of 2012, reflecting the near
absence of last year's record political and Olympics revenues. The
current quarter's operating income also included $1.2 million of
merger-related expenses, as Media General works out a merger with Young
The new company will own or operate 31
network-affiliated television stations across 28 markets, reaching
approximately 16.5 million, or 14%, of U.S. TV households. Media General
will hold a shareholders meeting November 7 meeting to vote on
Core ad sales, not including the impact of
the Olympics, increased 7.6% in the quarter. Digital revenue grew 21%
while retrans revenue increased 41% — going from $9.4 million last year
to $13.2 million in the most recent third quarter.
reported broadcast cash flow in the 2013 third quarter going up 21% from
the preceding odd year of 2011, to $23 million.
FCC has approved our license transfers before our shareholders meeting,
we plan to close the transaction very shortly thereafter," said George
Mahoney, president and CEO.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.