Q2 Earnings: Tribune Broadcasting Revenues Up 63%


By Merrill Knox Comment

TribuneMedia_CMYK_pri_LrgTypeTribune Media reported $425.8 million in broadcasting segment revenues for the second quarter of 2014, a 63% increase compared to the year-ago quarter.

Broadcasting segment revenues in the second quarter were up 4.9% pro forma for the acquisition of Local TV, which was completed in December. On the same basis, retransmission consent revenues were up 78% and advertising revenues were down 2.2%.

“I am very pleased with our accomplishments in the second quarter,” Tribune Media president and CEO Peter Liguori said in a statement. “While the core advertising market experienced headwinds in the first half of the year, we continue to be encouraged by the strength of our new broadcast scale, as evidenced in our year-over-year retransmission fee increases, and feel positive about the opportunities presented by the political advertising landscape in the second half of 2014.”