Barrington Revenue Down 15% in Q4

"Cautiously optimistic" that recovery continues

By Michael Malone -- Broadcasting & Cable, 3/16/2010 11:06:51 AM

Barrington Broadcasting Group reported gross fourth quarter revenues of $32.5 million in the fourth quarter of 2009, down 14.7% from the same quarter a year before. The decrease was primarily due to a drop in political revenues of $6.8 million, or 81.6%, to $1.5 million and a decrease in national revenues of $0.9 million, or 11.4%, to $7.2 million, Barrington said in a statement.

Local revenues were unchanged at $18.3 million for the quarter, while other revenues increased  63.6% to $5.5 million for the quarter, primarily from retransmission consent revenues.  

"We were encouraged by our operating results in the fourth quarter and we are cautiously optimistic that the increased activity will continue in 2010," said Barrington CEO K. James Yager. "We remain very focused on three key priorities: re-engineering of our station-level operations, development of local sales strategies and the growth of our local digital platforms.  Also, we anticipate the cost-saving initiatives we put in place last year coupled with the reduced annual interest expense from the bond-buyback program completed in 2009 give us an opportunity to substantially increase cash flow available to reduce leverage."

Illinois-based Barrington reported gross revenues for the full year were down 17.3% to $115.6 million, compared to the whole of 2008.

Barrington is owned by Pilot Group and owns, operates or provides services for 24 stations in smaller markets.