Time Inc. released the results of it 2016 fourth-quarter earnings report Thursday, with revenue figures that fell short of expectations. Time’s total revenue in the fourth quarter was $867 million, compared to an expected $872.7 million. Advertising revenue was up 5 percent in the fourth quarter, representing a $25 million increase, and up 3 percent in 2016 overall. Circulation revenue was down by 11 percent in the fourth quarter and 9 percent for all of 2016. (Fishbowl)
Cable operator Charter Communications, in which John Malone’s Liberty Broadband owns a big stake, also reported fourth-quarter financials on Thursday. The results exceeded Wall Street estimates, but the company said it lost video subscribers in the period. (THR)
Univision Communications also released its results, reporting higher fourth-quarter earnings, and said that it anticipates receiving approximately $376 million in proceeds from the FCC spectrum auction this year. (THR)
The Spanish-language media conglomerate, which posted a fourth-quarter net income of $108 million compared with a year-ago net income of $8.8 million, has been planning an IPO in recent years. (Variety)