Q1 Earnings: Media General Net Operating Revenue Up 16%

By Merrill Knox Comment

media generalMedia General reported $144 million in net operating revenue for the first quarter of 2014, a 16% increase on the year-ago quarter. It was the first full quarter for the combined Media General and Young Broadcasting.

The company reported an increase in core local and national gross time sales, as well as automotive and telecommunications advertising. Media General stations “generated significant revenue” during the Sochi Winter Olympics and the NCAA Basketball tournament.

“Political revenues of $4.4 million were more than five times last year’s level, as we benefited especially from the race in Florida’s 13th congressional district, near Tampa. Also, retransmission consent revenues grew nearly 50%, and digital media revenues rose 33%,” Media General president and CEO George L. Mahoney said in a statement.