Q2 Earnings: Gray TV Revenue Down 11%

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By Merrill Knox Comments

Gray Television reported $84.3 million in total revenue during the second quarter of 2013, a decline of 11% compared to the year-ago quarter.

Local and national advertising revenue both increased 5% compared to the year-ago quarter. Internet advertising revenue was down, as was political advertising, which fell 94% in the non-election year. Retransmission revenue rose 13% compared to the second quarter of 2012.

“We are pleased with our operating results for the second quarter of 2013. We experienced period over period increases in national advertising, local advertising and retransmission consent revenue.  Our period over period decrease in total revenue was primarily due to the expected decrease in political advertising revenue,” the company said in a statement.