It moves Laura Tomlin to executive vice president, national media, while Carolyn Pione Micheli becomes senior vice president, corporate communications and investor relations.
The increase to $552 million was driven by acquisitions and continued growth in subscription revenue and advertising and marketing services, which more than offset the absence of $60 million of political revenue in the same period last year.
Dish Network posted a better-than-expected quarterly profit on Thursday, as the satellite TV service provider surprised Wall Street by adding more pay TV subscribers. It increased its subs by 148,000 in the quarter, compared with analysts’ estimates for a loss of 166,000, according to research firm FactSet.
An increase in retransmission consent revenue of $26 million, or 15%, to $196 million couldn’t quite offset lower advertising dollars. The company also authorizes a $150 million share repurchase.
The market took a decisive turn lower in the middle of the day Wednesday after a report from Reuters said the United States and China may delay signing “phase one” of their trade deal until December, but the drop didn’t last long. After sinking 0.3%, the S&P 500 erased its loss within about two hours.
Total revenue reached $2.67 billion. Core divisions housing cable and broadcast operations posted single-digit growth. The Television segment had revenue of $1.36 billion, an increase of $79 million (6%). Affiliate and “other” revenue offset declines in advertising.
Retrans powers the group’s 3Q, passing ad dollars. While auto is still down, pharmaceuticals, attorneys and insurance are the driving ad categories.
“The category that is phenomenal in its growth — and it continues to be unabated — is the legal category,” the group’s CEO, Perry Sook, told analysts today. He noted that legal is already the top category reported by another group owner in at least two markets, surpassing auto. “We’re not there yet, and there’s a long way to go for us to get there, but legal is now our No. 2 category, supplanting fast food, furniture and some of the other perennially strong categories. They’re strong, it’s just that the growth curve on legal advertising continues unabated,” Sook said.
The Local Media Consortium, an alliance of leading local media companies, today announced that it has elected Stefanie Manning of Maine Today to join the LMC’s 10-member executive board. In addition, four current board members — Gary Smith of The Seattle Times, Chris Loretto of Digital First Media, Mike Orren of A.H. Belo Corp., and […]
The board of directors of the E.W. Scripps Co. today declared a cash dividend for the fourth quarter of 2019. Scripps shareholders of record as of Dec. 13, 2019, will receive 5 cents per share, payable on Dec. 24. The dividend will be paid out of the company’s surplus.
Political and over-the-top advertising, plus growth in mobile and social ads will be key elements in local media next year.
The growth was fueled by increases in distribution and digital revenues.
The quarterly numbers reflect the 12-day contribution and expenses from the acquired Tribune stations. Total spot revenue grew 11% to $290,213,000.
Troubled measurement company Comscore announced that Bill Livek has been named CEO as the company reported a loss for the third quarter and a decline in revenues.
The sale of WYCI Saranac Lake, N.Y. by Cross Hill Communications to Gray Television network tops the latest list of TV station transactions submitted to the FCC for its approval, according to BIA Advisory Services.
The Dow Jones Industrial Average and the Nasdaq closed at record highs yet again on Tuesday, and the S&P 500 closed barely below the all-time high it reached a day earlier. The gains in recent weeks have been driven by company earnings that haven’t been nearly as terrible as Wall Street was expecting, interest rate cuts, hopes for a trade truce and a steadily growing economy. In all, the S&P 500 is up 22.7% so far this year, putting it on pace for its best year since 2013.
Nexstar will purchase Charlotte, N.C.’s Fox and MNT affiliates for approximately $45 million while Fox will buy Nexstar’s Seattle Fox and MNT affiliates and Milwaukee’s Fox affil for approximately $350 million.
For the nearly 700 people who came, KSAT San Antonio’s “Spooktacular” was just a nice way for the family to spend the Sunday before Halloween. But for the station, it wasn’t just about selling tickets to a community event. Spooktacular was another step toward a distant goal that skeptics might say doesn’t have a ghost of a chance: to develop an ongoing membership model for commercial TV stations. The concept is to identify loyal digital fans and “super-serve” them with layers of distinctive value that they will pay for. Now KSAT’s owner, Graham Media Group, is doubling down on the idea — and getting some help from Google to do it.
Verance and Extreme Reach today announced plans to jointly bring new, household-level addressable and cross-platform reporting capabilities to market. The partnership combines Verance’s open standard Aspect watermarking technology with ER’s AdBridge asset management platform for TV and video ad creative. The partnership will make Verance insights available to AdBridge clients on both the buy and sell side, providing […]
Comcast Cable is renaming its Spotlight advertising sales division as Effectv to reflect that in a changing television environment, it can show advertisers the impact of the campaigns it runs. The company is shifting its emphasis from traditional spot sales to a focus on data-driven and addressable advanced advertising.
The CEO of Fox Television Stations moves to eliminate commercials and other interstitials between newscasts and syndicated shows in hopes of hanging on to more viewers.
The Dow hit a record Monday as the stock market rally extended into its fifth week. Oil producers, banks and other stocks that do well when the economy is strengthening again led the way. It’s a notable shift in leadership following months of struggles for what Wall Street calls “cyclical” stocks, which lagged due to worries about trade wars and the slowing global economy.
George Beasley, founder and chairman of Beasley Media Group, will be honored with the 2020 Lifetime Achievement Award at the Broadcasters Foundation of America’s Golden Mike Award dinner. The gala, which is an annual fundraising event for the Broadcasters Foundation’s mission of helping broadcasters in need, will be held on Wednesday, March 4, at the Plaza Hotel in New York City. […]
The National Association of Broadcasters Leadership Foundation announced today the inaugural class of the Media Sales Academy. Curriculum for the program was developed in collaboration with the Radio Advertising Bureau and the Television Bureau of Advertising. The redesigned program, previously known as the Media Sales Institute, brings entry-level sales talent to the broadcast industry by […]
The 20-year local broadcast veteran moves from Nexstar’s Tri-Cities, Tenn., operations to lead WSPA (CBS) and WYCW (CW).