Post-Newsweek Station Revenue Up 3% - Broadcasting & Cable

Post-Newsweek Station Revenue Up 3%

Stations and cable help make up for lagging sectors
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Post-Newsweek reported broadcasting revenue of $84.9 million in the second quarter, up 3% from the same quarter last year. Operating income for the second quarter increased 9% to $32.6 million.

The increase in revenue and operating income is due to "overall improved advertising demand across many product categories, offset by the absence of $4.7 million in incremental winter Olympics-related advertising in the first quarter of 2010, and a $2.5 million and $4.3 million decrease in political advertising revenue for the second quarter and first six months of 2011, respectively," said Post-Newsweek in a statement.

Parent Washington Post Co.'s newspaper publishing division revenue totaled $162.8 million for the second quarter, down 6% from the second quarter of 2010. Education was down 10%.

Its cable division showed a slight increase of revenue in the second quarter at $191.2 million, ahead of $190.6 million in last year's second quarter. The increase is due to continued growth of the division's Internet and telephone service revenues, said Washington Post Co., offset by an increase in promotional discounts.

Cable television division operating income decreased 8% to $40.4 million in the quarter, primarily due to increased programming, technical and sales costs.

Overall company revenue was $1.07 billion in the quarter, down 10% from $1.2 billion in 2010.

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