Broadcasting & Cable
Journal Communications reported television station revenue of $28.3 million in the fourth quarter, a 15.2% drop from the same quarter a year before. Political advertising was $1.4 million, down from the $6.1 million in the fourth quarter of 2008.
Journal’s overall broadcasting division, which includes radio, reported revenue of $46.1 million in the quarter, a 13.3% decrease from the same quarter a year previous. Overall broadcast revenue was down 18.3% for the full 2008, while TV station revenue was down 19.3% for the full year.
The company cut television operating expenses 17.4% in the fourth quarter and vowed to “remain diligent on cost controls.”
Journal Chairman/CEO Steven J. Smith said the Olympics and increased political activity will help Journal in 2010. More…