Q2 Earnings: Journal’s Television Revenue Rises 22.5%


By Merrill Knox Comment

Journal Communications reported $43 million in revenue from television stations during the second quarter of 2013, up 22.5% (6.9% on a same-station basis) from the year-ago quarter, excluding political revenue.

Political advertising revenue dropped from $5.2 million in Q2 2012 to $0.2 million in the non-election year. Local and national advertising revenue, excluding political, were up 43.2% and 31%, respectively. On a same-station basis, local ad revenue was up 6.8% and national ad revenue declined 1%.

Operating earnings from Journal’s television station groups were $8.5 million, a decrease of 2.2% on the year-ago quarter (48.2% on a same-station basis). Both declines were due to “the loss of high-margin political revenue in 2013,” according to the company’s press release. Operating expenses increased 30.6%, (4.9% on a same-station basis), excluding acquisition costs, due to increases in network fees and employee-related costs.