The operating income for the tiny TV group nearly triples, but revenue and operating income for the company’s much larger radio station group is down 2.7% and 4.6%, respectively.
Saga Communications’ small TV station group was the bright spot in the third quarter earnings of Saga Communications released today. TV group revenue rose 18.7% year over year to $4.4 million, while operating income jumped 194% to $928,000.
Saga is primarily a radio station operator, but it owns or manages five TV stations in three markets, including duopolies in Joplin, Mo.-Pittsburg, Kan. (DMA 144), and Victoria, Tex. (DMA 205) and a standalone station in Greenwood-Greenville, Miss. (DMA 184).
By way of comparison, Saga’s radio revenue for the quarter was $31.4 million, while TV revenue was just $4.4 million.
On a pro forma basis, neither the radio stations nor the corporation as a whole did nearly as well as TV in the third quarter year over year.
Revenue and operating income for the corporation fell 0.5% and 1.4% in the quarter. respectively. Revenue and operating income for the radio segment dropped 2.7% and 4.6%, respectively.