Hearst-Argyle Television Inc. reported an 18 percent drop in operating cash
flow to $77.4 million for the second quarter on a 10 percent revenue decline to
For the first six months of 2001, cash flow is down 22 percent to $128
million and revenue is down 11 percent to $324 million.
The company said it expected a 10 percent to 14 percent revenue decline in
the third quarter due to continued softness in the economy, as well as to tough
comparisons to last year, which had the Olympic Games and political money
flowing in during the third quarter.
In other company news, Hearst-Argyle Monday named Richard Dyer president and
general manager of its Omaha, Neb., station, KETV, replacing Phylis Ned, who
left the station on medical leave in anticipation of retirement next year.
Dyer has been a corporate vice president for sales at Gannett Co. Inc.'s
station group, and he has worked in management positions in Columbus, Ohio; St.
Louis; and Washington, D.C.