Broadcasting & Cable
Meredith Corp.reported fiscal first quarter revenue of $76 million in its TV group, a 25% improvement over the same quarter a year ago. The Local Media Group’s operating profit was $17 million, well ahead of the $2 million posted a year ago.
Overall Meredith revenue was $344 million in the quarter, up 4%.
Television spot advertising revenue grew 27%, including $12 million in net political advertising and an 8% increase in non-political advertising. More…