Fisher Communications' television revenue was $25.1 million in the third quarter, an 8% decrease over the previous year's third quarter. The company's overall net revenue was $34.5 million, an 18% decrease from the same quarter last year.
Fisher said the negative TV numbers reflected "continued weakness in advertising during the quarter due to the challenging macro-economic environment and a $4.2 million decline in political spending compared to the third quarter of 2008." That was partially offset by a 466% increase in retransmission consent revenue, which tallied $2 million for the quarter.
Net advertising revenue decreased 25% in the third quarter, compared to the same period last year.
Among the advertising categories showing major shortfalls were automotive (31%) and retail (26%).
"We expect that the proactive steps we are taking to improve our operational and financial performance will allow Fisher to emerge a stronger media company once the economic recovery takes hold," said Fisher President/Chief Executive Officer Colleen B. Brown. "Our strategic focus on increasing market share, expanding content offerings, aggressively fighting for every advertising dollar and maintaining a disciplined approach to cost management will allow us to better serve our viewers and create long-term value for our shareholders and business partners.
Fisher also reported a five-year renewal of the network affiliation between ABC and its affiliated stations, KOMO Seattle and KATU Portland, effective September 1st, 2009.
Seattle-based Fisher owns 13 full power TV stations, seven low power outlets, and eight radio stations.