Meredith Reports 26% Increase in Local Revenue

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By Merrill Knox Comment

Meredith Corporation reported a +26% increase in local media group revenues for the fiscal first quarter of 2013, the company announced Thursday.

Net political advertising revenues were $12 million, a record high for a fiscal first quarter. Non-political advertising revenues increased +5%. All of Meredith’s markets grew in both revenues and operating profit.

“We are focused on keeping the momentum going in non-political advertising revenues, along with maximizing our political advertising opportunity this election cycle,” Local Media Group president Paul Karpowicz said in  a statement.

The company also said three of its stations —  KPHO in Phoenix, KPTV in Portland, Ore. and WHNS in Greenville, S.C. — grew substantially in ratings during the July ratings period.