Net revenue at Liberman Broadcasting was $30.7 million in the third quarter, an 11.6% improvement over the same quarter a year ago. Liberman's television segment revenue grew 29.6% to $14.3 million, while radio revenue was up slightly to $16.4 million.
Liberman launched the Spanish-language multicast network Estrella TV a year ago. Liberman said TV's increase was "primarily attributable to increased advertising revenue in our television segment, reflecting incremental revenue from our Estrella TV television network, as well as growth in our California market."
"We are pleased with Estrella TV's performance and it is already contributing to the company as we leverage the strength of our programming across the nation," said President/CEO Lenard Liberman. "Estrella TV has demonstrated consistent and competitive network ratings results and it continues to secure additional distribution."
Liberman said new affiliate agreements in Salinas-Monterey, CA and Yuma, AZ, along with the acquisition of a station in Denver, will increase Estrella TV's reach to over 77% of all U.S. Hispanic television households.