All of the big Florida TV owners report a rise in 3Q profits. Is the future looking up for local TV? Read on…
(edited from TVNewsCheck.com) - Sinclair Broadcast Group (owners of WEAR, WFGX, WTWC, WMOR) today reported financial results for the three months ended Sept. 30. Net broadcast revenues from continuing operations were $158.8 million, an increase of 16.4% versus the prior year period result of $136.4 million. The company had operating income of $56.1 million in the three-month period, as compared to operating income of $35.7 million in the prior year period. Political revenues were $9.8 million in the third quarter 2010 versus $1.9 million in third quarter 2009….Cont….
(edited from LATimes.com) - News Corp.’s (owners of WTVT, WOFL, WOGX) hard-knuckled negotiations with cable operators are paying dividends: The media conglomerate posted a 36% jump in net income for its fiscal first quarter, thanks to double-digit gains from cable and television groups.
The company reported a net income of $775 million, or 30 cents a share, for the three-month period ending Sept. 30. That’s up from $571 million, or 22 cents a share, a year ago. Revenues of $7.4 billion rose 3% from a year earlier….Cont….
(edited from BroadcastingCable.com) - Gannett Broadcasting (owners of WTSP, WTLV/WJXX) revenues were $185.3 million in the third quarter, a 22.3% climb over the same quarter a year ago. The broadcast division includes Gannett’s 23 stations and the Captivate elevator TV network.
Television revenue alone was $179.6 million, well up from the $145.2 million Gannett reported at the same point last year, reflecting strong core advertising and political spending….Cont….
(edited from RapidTVNews.com) - Local TV in the US got some good news when publishing company EW Scripps (owners of WFTS, WPTV) reported its third-quarter earnings with its ten local TV affiliates raising a 31% increase in revenue for Q3 2010. Overall, local revenue was up nearly 5% to $37.6 million.