Q3 Earnings: Journal Communications TV Revenue Up 40%

By Merrill Knox Comment

Journal Communications announced revenue from its 15 television stations increased +39.5% in the third quarter of 2012.

Political and issue revenue in the third quarter was $8.6 million and Olympic advertising was $2.7 million, the company said. Core local advertising revenue decreased -3% due to declines in restaurant and home advertising, as well as the displacement impact of political and issue advertising in certain markets. Core national advertising revenue increased +18.2% due to automotive and media advertising.

Journal also completed an agreement this quarter to purchase WTVF in Nashville, which chairman and CEO Steven J. Smith said in a statement “advanced our strategy of adding broadcast assets to the business.”