Journal Communications, the owner of Journal Broadcast Group, which operates 13 TV stations in 12 states, today reported a 15.4% drop in revenue from its stations for the fourth quarter, compared to the same period in 2010.
Journal also reported a 7.5% decrease in TV station revenue for the full year of 2011.
The Q4 revenue dip was driven by a significant decrease in political advertising for the period, compared to 2010 numbers. Journal TV stations brought in $0.7 million in political advertising during the fourth quarter, compared to $8.8 million in 2010.
Excluding political advertising, station revenue increased 7.9% for the period, driven by notable gains in local advertising and retrans revenue.
For the full year, Journal TV stations brought in $115.7 million compared to $125.1 million in 2010. Journal attributes the decrease to a decline in political advertising as well as revenue from the 2010 Olympics.