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Journal TV Revenue Up 23% - Broadcasting & Cable

Journal TV Revenue Up 23%

Retrans cash paces Journal to Q3 growth; radio up less and publishing down
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Journal Communications announced third quarter revenue of $105.1million, up 8.5% from the same quarter in the previous year. Television revenue grew 22.8% while radio revenue increased 5.1%. 

Television retransmission revenue of $9.6 million was up 82%. 

“Journal benefitted from continued growth in television retransmission revenue along with significant political and issue advertising spending in a number of our markets,” said Steven J. Smith, chairman and CEO of Journal Communications. 

“Our focused broadcast sales efforts grew both television and radio revenue, excluding retransmission and political, by approximately 3% and drove television and radio digital revenue up 22% and 31%, respectively,” he added. 

Journal Communications and E.W. Scripps Company expect to close their merger, announced in July, in the first half of 2015. The broadcast outfit will retain the Scripps name and remain in Cincinnati. The merged newspaper company will be called Journal Media Group and will be headquartered in Milwaukee.

Journal publishing revenue was down 5.4% in the third quarter. 

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