Broadcasting & Cable
Meredith Local Media reported revenue of $68.76 million in its third fiscal quarter, a 20% improvement over the $57.27 million it reported in the same quarter last year. The Local Media Group‘s operating profit was $13 million in the third quarter, up significantly from $1 million in the same quarter a year ago.
Meredith’s 12 TV stations comprise the Local Media Group.
“Our Local Media business delivered significantly improved results across the board, a reflection of improving market conditions and success at executing our performance improvement initiatives,” Meredith Chairman/CEO Stephen Lacy. More…