Fisher TV Revenue Flat in Q2Core up 4% as group awaits closure of sale to Sinclair 7/29/2013 01:23:27 PM Eastern
Fisher Communications reported second quarter television revenue of $36.7 million, essentially flat when compared to the same quarter a year before.
Excluding political revenue from the equation, TV net revenue ticked up 2%, while core business grew 4%. Retransmission consent revenue increased 6% to $6.6 million.
Fisher's total revenues for the quarter were $42.1 million, roughly flat as well.
Radio net revenue was down 2% year-over-year to $5.4 million due to market softness.
In April, Sinclair agreed to acquire the Fisher group for $373 million. Subject to regulatory approval, the deal is expected to close in the third quarter.
Colleen Brown, Fisher president and CEO, saw positives in the Q2 numbers. "The second quarter marked a continuation of our positive momentum, with Fisher delivering another solid quarter financially and operationally," she said. "Once again our performance highlights the strength of our broadcast stations in their respective markets, which continued to climb in ratings rank and received a number of coveted awards during the quarter."
In the second quarter, Fisher closed on its acquisition of KMTR Eugene.