Drops in political, local and national ad revenue fuel the fall from $35.9 million in 2008’s third quarter to $28.2 million this year.
Barrington Broadcasting Group’s gross revenues for the quarter ended Sept. 30 decreased 21.6% to $28.2 million from $35.9 million for the quarter ended a year earlier.
The decrease, it said, was primarily due to an 86% decrease in political revenues to $600,000 and a 16% decrease in local revenues to $17.1 million.
National revenues decreased $2.8 million, or 31.4%, to $6.0 million.
Other revenues increased $1.7 million, or 63.3%, to $4.4 million for the quarter ended September 30, 2009.
Net revenues (gross revenues less agency commissions and other direct costs) for the quarter decreased 21%, or $6.4 million, to $24.2 million from $30.6 million.
K. James Yager, Barrington’s chief executive officer, said: “Third-quarter comparisons were difficult given the political activity that occurred in the same period in 2008. While we continue to see continued positive results from both revenue and cost-saving initiatives we put in place earlier in the year, weakness in the economy continued to negatively impact us during the quarter. However, we completed our bond buyback program during the quarter which will positively impact us in the future by reducing interest expense.”