Gannett 1Q TV Revenue Climbs 8.5%

Gannett Co. today reported first quarter results that included television revenues of $185.5 million, 8.5% higher compared to $170.9 million in the first quarter a year ago.

An increase of 58.7% in retransmission revenue and a 2.3% increase in core advertising revenues more than offset lower advertising associated with the move of the Super Bowl broadcast to the company’s six CBS stations from its 12 NBC stations and a decrease in political spending of $3.4 million.

Excluding political variances year-to-year, the percentage increase in total television revenues would have been 11%. Core advertising revenues would have been almost 4% higher excluding the impact of the Super Bowl switch.

Gannett said that based on current trends, “we expect the percentage increase in total television revenues for the second quarter of 2013 to be in the mid-single digits compared to the second quarter of 2012.

Television revenues in 2012’s second quarter benefited from $11.8 million in politically related advertising. Excluding the incremental impact of political spending, the percentage increase in total television revenues in the second quarter this year compared to the second quarter last year is expected to be in the high-single digits.

Total revenues for the company were 1.6% higher in the first quarter compared to the first quarter in 2012 and totaled $1.24 billion reflecting revenue increases of 8.7% and 3.9 percent in the broadcasting and digital segments, respectively. Publishing segment revenues were relatively unchanged as the positive results of the all access content subscription model and digital marketing services were

offset by softer advertising demand.

Read the company’s report here.