Media General reported a net loss for the third-quarter of 2012, but said revenue grew nearly +42% due to an increase in political ads and the Summer Olympics.
“Political revenues totaled nearly $20 million and reflected the strong positions of our television stations in their markets and the presence of six Media General stations in presidential battleground states,” president and CEO Marshall Morton said in a statement. “Our eight NBC stations generated a record $15.5 million of revenues from the Summer Olympics, capitalizing on record viewership for the London games.”
Media General also reported an +80% increase in cable and satellite retransmission fees and a +21% increase in advertising revenues for the stations’ websites in the third quarter.