Belo Revenue Up 14% in Fourth Quarter
Earnings bolstered by big increase in political ads
By Michael Malone -- Broadcasting & Cable, 2/8/2013 10:31:15 AM
Belo's other revenue, which comprises primarily Internet advertising, retransmission revenue, and barter and trade advertising, was up 8% in the fourth quarter of 2012 compared to the previous fourth quarter, and included double-digit percentage increases in both retransmission and Internet revenue.
Combined station and corporate operating costs were up 8% in the fourth quarter of 2012 compared to the fourth quarter of 2011.
"Our financial performance for the full year was highlighted by record political revenue, which surpassed $60 million for the first time in the company's history, and significant growth in our largest advertising category, automotive, which increased 16% over full year 2011," said Dunia Shive, Belo president and CEO. "The company's total revenue grew 10% in 2012 compared to 2011."
Belo estimates first quarter 2013 revenue to be up 2-2.5%, with increases in core spot, retransmission and Internet revenue partially offset by lower political revenue.
Retrans is a criminal endeavor created by Congress with the unintended consequence of double dipping the American tax payer - we provided broadcasters with the spectrum used for public service in transmitting over the air - and now they extort payment for those of us that view these services over a cable connection. This is not about extracting value from cable distributors - rather Retrans is corporate extortion and exploitation. If broadcasting is a public service they should be paying cable distributors for re-transmitting signal over cable systems - delivering signal where it likely would not otherwise be available. The FCC says their hands are tied as congress created the problem so congress must be the one to clean up the mess. Add broadcasters to the list which includes farmers, two lines of opportunity where failure is eliminated by a guarantee of success through subsidy by the American tax payer. Retrans is nothing more than a tax on consumers for ensured corporate profit.
Quigley Spargus - 2/11/2013 9:42:01 AM EST
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