Young, Gray report 2Q declines - Broadcasting & Cable

Young, Gray report 2Q declines

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Young Broadcasting Inc. reported a 19% drop in operating income to $6.8
million for the second quarter on a 2% revenue decline to $53.9 million.

The company cited the lack of political advertising this year as a major
reason for the declines.

Separately, Gray Television Inc. reported a pro forma 2% drop in operating
income to $23 million on a 2% revenue gain to $75.4 million.

Gray’s actual revenue climbed 80% due to acquisitions including the purchase
of Benedek Broadcasting Corp. last year.

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