ACME Reports Gains, Losses for Q4 - Broadcasting & Cable

ACME Reports Gains, Losses for Q4

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ACME Communications reported both gains and losses in the fourth quarter of 2006, citing a 65% increase in broadcast cash flow, up from $643,000 in Q4 2005 to $1.1 million. ACME also cited a 4% boost in net revenue for the quarter for its stations, excluding Q4 2005 revenues stemming from the deconsolidation of The Daily Buzz.

Helping ACME’s performance was completing the sale of WTVK Fort Myers-Naples, Fla., and KUWB Sal Lake City.

ACME, run by television veteran Jamie Kellner , owns six CW stations and one MyNetworkTV outlet.

The company also announced a net loss for the fourth quarter of $1.6 million, compared to $5.6 million a year ago. Net revenues for the year ($34.8 million) were up 2% from 2005.

CEO/Chairman Kellner said a stronger showing from the CW network will improve the company’s performance: “Although advertising demand seems anemic in early 2007, we are positioning our stations to take advantage of potential ratings improvements for the CW Network, as well as a strengthening ad environment.”

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