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NEW YORK Even Hearst-Argyle Television’s record $93 million in political advertising and a 24.4 percent increase in retransmission consent fees couldn’t offset a 9 percent drop in fourth-quarter revenue to $197.1 million. For the year, revenue declined 4.7 percent to $720.5 million.
In addition to the recession, the TV group, which reported its Q4 and year-end earnings Wednesday, attributed the revenue drop to decreased spending among several major ad categories including automotive, retail, telecommunications, movies, restaurants, health services and furniture.
“Unfortunately,
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