Meredith Local Media Revenue Up 30%

By Andrew Gauthier Comment

Meredith Corp., which owns 12 local stations across the country, announced today that revenue for its Local Media Group is up nearly 30% from a year ago.

Meredith reported results for its second quarter and the numbers show that local TV stations continue to provide steady gains for broadcasting companies.

Meredith’s Local Media Group brought in $97 million during the quarter, with an operating profit of $39 million.

Meredith chairman and CEO Stephen M. Lacy said that the company is “extremely pleased” with the results and predicts “continued long-term growth.”

Much of the success can be attributed to a spike in political advertising.  Meredith owns stations in areas that were key battlegrounds during the 2010 election season, including KVVU in Las Vegas and WFSB in Hartford.  Non-political advertising, however, was up 3% from last year.