Hearst-Argyle Television Inc.'s operating income for the first quarter fell 19
percent to $37.5 million on a 4 percent drop in revenue to $149.3 million.
"We are hopeful that the conclusion of the war bodes well for eventual
economic recovery," CEO David Barrett said. "But we believe a
sustained improvement in consumer-confidence levels, increased employment and
capital spending and a general improvement in macroeconomic indicators will be
needed drivers to stimulate meaningful growth in overall ad spending."
Hearst-Argyle posted its results Friday.