Q4 Earnings: Graham Holdings TV Revenue Down 11%


By Merrill Knox Comment

graham holdingsGraham Holdings Co., the parent company of the Post-Newsweek stations, reported $103 million in television broadcasting revenue in the fourth quarter of 2013, an 11% drop compared to the year-ago quarter.

Operating income was $51.9 million, a 17% decrease from $62.8 million in the fourth quarter of 2012. The company says the declines were due to a decrease in political revenue in the non-election year. Declines in revenue and operating income were partially offset by increased retransmission revenues.