Post-Newsweek Revenue Up 29%
All markets show increased ad demand
By Michael Malone -- Broadcasting & Cable, 11/5/2010 11:32:03 AM
Post-Newsweek reported third quarter television revenue of $83.2 million, a 29% gain over the same quarter last year. Operating income for the division increased 68% to $25.3 million.
"The increase in revenue and operating income is due to improved advertising demand in all markets and most product categories, particularly automotive," Post-Newsweek said in a statement.
Post-Newsweek stations saw a $9 million increase in political advertising revenue for the third quarter.
Parent Washington Post Co.'s revenue for the third quarter was nearly $1.2 billion, up 7% the third quarter of 2009, due to increased revenues at the education, broadcasting and newspaper publishing divisions, offset by a small decrease at the cable television division.
Cable television division revenue was $188.7 million, a slight decline from the $189.6 million reported in the third quarter of 2009. The company's basic and digital cable subscriber rolls were both down in the quarter, while high speed data and telephone service subscribers were up.
Newspaper publishing division revenue totaled $163.4 million for the third quarter of 2010, an increase of 5% from the third quarter of 2009.
Washington Post's Post-Newsweek division is comprised of six TV stations, including WDIV Detroit and WPLG Miami.
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