Fisher TV Revenue Up 27% - Broadcasting & Cable

Fisher TV Revenue Up 27%

Political, auto drives major recovery
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Fisher Communications reported third quarter television revenue of nearly $32 million, a 27% increase over the same quarter a year ago, thanks primarily to political advertising. Total revenue was $42.2 million, 22% better than last year's third quarter.

"We are pleased with the financial results for the quarter, which represented Fisher's third consecutive quarter of revenue growth," said Fisher President/CEO Colleen Brown. "Our performance reflects continued growth in core advertising and robust political spending in California, Washington and Oregon. Our stations continue to take higher shares of both ratings and revenue, and as we look ahead beyond elections and into 2011, we are cautiously optimistic that the core advertising rebound that began a year ago will continue."

Retransmission consent revenue was $3.6 million in the quarter, down $655,000 from the same quarter last year. Fisher's TV net advertising was up 38% in the quarter, while automotive ads jumped 61%.

Seattle-based Fisher owns 20 TV stations, including KOMO Seattle and KATU Portland, and owns or manages 10 radio stations.

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