McGraw-Hill announced today that its first quarter broadcasting revenue was up 10.2% compared to the same period last year.
The company, which owns four ABC-affiliates across the country including Denver’s KMGH and San Diego’s KGTV, brought in $20.6 million during the first quarter and is attributing the boost to growth in automotive advertising and an increase in retransmission revenue.
“A promising year is off to a solid start,” said Harold McGraw III, chairman, president and CEO of The McGraw-Hill Companies, in announcing the financial results.
Retrans money and advertising growth helped McGraw-Hill offset a decline in political advertising from the previous year. As well, McGraw-Hill, with only ABC-affiliates in its stable, avoided the declines in revenue recently reported by such station owners as Media General and Gannett, whose NBC-affiliates had the Olympics last year and CBS-affils had the Super Bowl.