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The media recovery is still slow in materializing, if newly released industry results are any indication.
Political advertising helped boost the fortunes at Sinclair Broadcast Group, which said fourth-quarter revenue rose 5 percent to $188.1 million. The Baltimore-based owner of the largest group of U.S. TV stations, however, said it lost $5.09 million, or 6 cents a share, because of a write-down on the value of one of its markets.
Similarly, Belo Corp. cited political advertising as the primary reason for its 26 percent increase in fourth-quarter profit, offsetting continued weakness at the company’s flagship Dallas Morning News.
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