Gannett TV Revenue Up 46%
Political, retrans pace media giant to "first year-over-year increase in company-wide revenue since 2006"
By Michael Malone -- Broadcasting & Cable, 2/4/2013 10:16:24 AM
Gannett's overall broadcast revenues in the quarter, which include its Captivate elevator programming, were $287.5 million, up 44% from the same quarter in the previous year. Excluding the extra week in the quarter, revenues in the broadcasting segment were 39% higher.
Gannett forecasts its total television revenues to be up in the high-single digits in the first quarter of 2013. Excluding political variances year-to-year, the percentage increase in total television revenues is projected to be up in the 10-12% range in the first quarter.
Broadcasting segment operating expenses totaled $129.6 million, an increase of 17.7% compared to the fourth quarter a year ago.
Total operating revenues for the company were $1.52 billion in the fourth quarter, a 9.4% increase compared to the fourth quarter last year. "A substantial increase in broadcasting segment revenues, higher publishing segment revenues as well as the extra week in the quarter drove the increase," said Gannett in a statement.
"We are proud of our strong operating results this quarter with growth in revenue and margin expansion driving strong cash flow," said Gracia Martore, president and CEO. "This caps an extremely productive year in which we successfully implemented our strategy to position Gannett for success in the digital era. For the year, we achieved our first year-over-year increase in company-wide revenue since 2006. During the fourth quarter and for the full year, our Broadcasting business delivered record revenue and profitability. Our television stations significantly increased market share this year reflecting the value of their content and format in gaining new viewers while retaining their loyal base."
Publishing segment operating revenues in the quarter were $1.04 billion, 3.7% higher than the previous fourth quarter, reflecting the extra week and an increase in circulation revenues. The growth was offset, in part, by lower advertising revenues.
I've taken notice of Gannett rolling out new graphics and music package... Tampa Bay, Greensboro, Knoxville, Denver, D.C., St. Louis, Cleveland, Twin Cities, Phoenix, Sacramento, and Atlanta stations already have them... Buffalo, Grand Rapids, Jacksonville, Little Rock, Columbia, Macon, and Portland-Bangor stations have yet to get them. This is an improvement over the previous Gannett graphics and music package.
I still picture Gannett acquiring WDCW from Tribune, and the D.C. CW affiliate being paired up with WUSA. Other than WXIA Atlanta getting a new set... I still picture D.C., Denver, and Cleveland getting set makeovers in 2013.
Eric - 2/4/2013 7:56:42 PM EST
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