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Journal Station Revenue Down 2.1% - Broadcasting & Cable

Journal Station Revenue Down 2.1%

"Mixed results," though core station revenue grew
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Journal Communications reported TV station revenue of $28.7 million in the second quarter, down 2.1% from the second quarter last year.

Broadcasting revenue, including radio, decreased 2% to $46.1 million in the quarter. Core broadcast revenue, excluding political advertising in both years, was essentially flat.

Publishing revenue decreased 6.9% to $44.1 million, and overall company revenue was $90.1 million, down 4.5%.

"In the second quarter, Journal Communications saw mixed results in this challenging operating environment," said Steven Smith, chairman and CEO of Journal Communications. "Overall publishing and broadcast revenue was down in the second quarter compared to the second quarter of 2010. However, excluding political and issue advertising in both years, we did see a revenue increase at our television stations in the second quarter. In addition, we continue to see an increase in interactive revenue in both our broadcast and publishing businesses. Furthermore, total operating costs and expenses were down 2.4% compared to second quarter 2010."

Local advertising revenue on the TV stations increased 1.4% while national revenue decreased 9.5%, primarily due to a decrease in automotive advertising. Television operating expenses increased 2% mainly due to increases in employee related expenses and what Journal called "certain network fees."

Journal forecasts broadcast revenue to be up slightly in the third quarter, excluding political advertising.

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