Meredith Broadcast Revenue Up 20%
TV's "unparalleled ability to deliver" ad messages paces company
By Michael Malone -- Broadcasting & Cable, 4/29/2010 12:30:44 PM
Meredith's 12 TV stations comprise the Local Media Group.
"Our Local Media business delivered significantly improved results across the board, a reflection of improving market conditions and success at executing our performance improvement initiatives," Meredith Chairman/CEO Stephen Lacy. "Additionally, it speaks to broadcast television's unparalleled ability to deliver advertising messages to mass audiences in local markets."
Revenues from retransmission fees rose nearly 15% in the third quarter.
Meredith's National Media Group, which includes its magazine holdings, reported operating profit up 6% to $51 million. Revenues increased 2% to $285 million.
Amidst the rebound, Lacy said the marketplace remains hard to predict. "While our advertising growth was encouraging, we are still well below historic levels established prior to the recession in both our national and local businesses," Lacy said. "The marketplace remains very volatile on both a month-to-month and client-by-client basis. Our competitive advantage lies in the strength of our brands and the relevance of our content."
Overall advertising revenue is expected to increase 7-8% in the fiscal fourth quarter, compared to the fourth quarter last year.
No related content found.
No Top Articles
Digital Rapids provides market-leading software and hardware solutions, technology and expertise for transforming live and on-demand video to reach wider audiences on the latest viewing platforms more efficiently, more effectively and more profitably. Empowering applications from..more