The company says a big rise in auto advertising was the main contributor. Retrans revenue rose by 30%.
Gannett Co. today reported fourth quarter results that included television revenues that rose 11.3% from last year’s quarter, when political ad revenues were excluded. The increase was due, in part, to a significant increase in auto advertising in the quarter, Gannett said.
Including the political comparison, total TV revenues were down $27.9 million.
Retransmission revenues totaled $21.4 million, an increase of 30.3%, while television station digital revenues were 19.3% higher.
Based on current trends Gannett said it expect the percentage increase in total television revenues for the first quarter of 2012 to be in the high single digits compared to the first quarter of 2011.
Broadcasting segment operating expenses were $110.1 million in the quarter, down 5.9%. Reported operating income was $89.7 million, a decline of 22.5%. Operating cash flow totaled $97.3 million, a decline of $26.5 million despite significantly lower political advertising.
Gracia Martore, president-CEO, said: “During a period of weak economic growth, Gannett once again differentiated itself within the media industry by delivering solid profitability across each of our market-leading business segments — publishing, broadcast and digital — as well as free cash flow of $775 million in 2011.
Read the company’s report here.