Reporting Earnings, Meredith Points to Success in Atlanta, Hartford, Las Vegas, Portland

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By Andrew Gauthier Comment

Meredith, which owns 12 stations across the country, announced its second quarter earnings today, reporting a 13.5% drop in revenue for its local media group.

Meredith’s local unit took in $84 million for the period, compared to $97 million for its Q2 last year.¬† The company attributes the decline to a decrease in political advertising compared to a year ago–Meredith recorded¬† $21 million less of political advertising revenue for the quarter.

Non-political advertising revenues rose 9% in the second quarter, with Meredith’s stations in Atlanta (WGCL), Hartford (WFSB), Las Vegas (KVVU), and Portland (KPTV) performing the best.

“Once again we were able to drive industry-leading performance in non-political advertising revenues through our very strong connection to local viewers,” Meredith chairman and CEO Stephen Lacy said.

“It was the second-best performance for a non-political second quarter in Meredith’s history, and November 2011 was one of our strongest rating books in the last decade,” he added.¬† “Television continues to be the most powerful medium to deliver customers to local businesses and service providers.”

The full press release is available here.

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