Q2 Earnings: Graham Media Group Revenue Up 10%

By Merrill Knox Comment

GrahamHoldingsLogo-jpgGraham Media Group (formerly the Post-Newsweek stations) reported $88.3 million in television broadcasting revenue during the second quarter of 2014, a 10 percent increase on the year-ago quarter.

Operating income for the quarter was up 12% to $44.1 million. The station group says the increase in revenue and operating income  “is due to a $6.9 million increase in political advertising revenue, $9.5 million in incremental winter Olympics-related advertising revenue at the Company’s NBC affiliates and $9.3 million in increased retransmission revenues.”

The company’s second quarter earnings exclude WPLG, the ABC affiliate in Miami, which was recently sold to Warren Buffet’s Berkshire Hathaway.