TVNewsCheck
Acme Communications Inc. announced Tuesday that “continued sharply lower advertising demand” resulted in a 24% decrease in net revenues at its television stations, dropping from $7.6 million in 3Q 2008 to $5.8 million in this year’s quarter.
And its overall net revenues from continuing operations decreased 21% to $6.7 million in the third quarter ended Sept. 30 compared to $8.5 million in the third quarter of 2008.
Revenues at Acme’s syndicated “The Daily Buzz” increased 5% for the quarter, driven by what it called “broadening advertiser acceptance and support of the show.”
Total operating costs decreased 18% to $7.7 million for the third quarter compared to $9.4 million for the third quarter of 2008.
Station cash-based operating expenses decreased 13%, primarily on reduced promotion and compensation expense reflecting the company’s continued efforts to reduce all discretionary costs in the face of a continued severe economic downturn. More…