A newly expanded Graham Media Wednesday reported revenues rising 10% to $106.1 million in the second quarter of 2017.
That figure includes revenue from the group’s two January acquisitions—former Nexstar stations WCWJ, a CW affiliate in Jacksonville, Fla., and NBC affiliate WSLS in Roanoke, Va. Without those stations, Graham’s Q2 revenue rose 3%, driven by $5.8 million more in retransmission consent fees, Graham said.
The increased money from carriage deals offset the $1.3 million year-over-year loss in political money, as well as an increase in NBC affiliate fees being paid by Graham’s stations in Houston and Detroit, the company said. Graham stations entered a new carriage deal with Comcast April 1.
Operating income for the second quarter of 2017 decreased 11% to $39.3 million, due primarily to the significantly higher network fees, Graham said.
The TV group division increased 5% to $197.6 million in the first six months of 2017, from $188.5 million in the same period of 2016. Excluding revenue from the two newly acquired stations, revenue declined 1% due to a $5.3 million decrease in political advertising revenue and lower network revenue, offset by $8.8 million in higher retransmission revenues, Graham said.
Operating income for the first six months of 2017 decreased 24% to $65.2 million from $85.4 million in the same period of 2016, due primarily to significantly higher network fees.