Staff -- Broadcasting & Cable, 5/20/2001 8:00:00 PM
Cash flow drops 25% at Young
Young Broadcasting reported a 25% decrease in pro forma broadcast cash flow in the first quarter, to $32.6 million, on a 14% decline in pro forma revenue, to $92.7 million. But the company said local sales, outside of its California stations (KCAL-TV Los Angeles and KRON-TV San Francisco), grew by 6%. The company also said it finalized an agreement with its senior credit-facility lender to loosen financial covenants on May 10.
Friends of the FCC
Reps. Billy Tauzin (R-La.) and Fred Upton (R-Mich.) took their first-ever tour of the FCC last week. Tauzin, who chairs the House Energy and Commerce Committee, wants to reform the FCC and promises Congressional support for Chairman Michael Powell in implementing that reform. A spokesman for Upton, chairman of the House Telecommunications and Internet Subcommittee, said last week, "Our message is that help is on the way. We intend to work to increase the FCC's funding."
NBC, CBS are tops in demo, viewers
NBC and CBS led the week ended May 13 in adults 18-49 and total viewers, respectively, according to Nielsen Media Research. Ringing up a 4.7 rating in the 18-49 demo, NBC was boosted by its still powerful Thursday-night lineup (ER's 11.5 surpassing all prime time shows in this bracket) and the top-25 performance of two Weakest Link episodes. With 12.1 million total viewers, CBS likewise did well on Thursday, with a Survivor: The Australian Outback update special followed by back-to-back CSI episodes.
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