Q2 Earnings: Gannett Broadcasting Revenue Up 88%

By Merrill Knox Comment

gannett logoGannett Broadcasting reported $398.3 million in revenues for the second quarter of 2014, an 88 percent increase compared to the year-ago quarter. The increase was a reflection of Gannett’s acquisition of Belo, as well as higher retransmission revenue and political revenue “across all of our stations,” according to the company.

On a pro forma basis, broadcasting segment revenues were up 13.4 percent and retransmission revenues were up 66.6 compared to the year-ago quarter. Pro forma digital revenues were up 15.2% compared to the second quarter of 2013.

“Our expanded broadcast portfolio drove overall company margin expansion during the quarter, as we continue to transform Gannett into a higher margin, higher growth business,” Gannett CEO Gracia Martore said in a statement.