Graham Posts 10% Rise In 1Q TV Revenue

The increase to $92 million comes primarily from higher political ad revenue and more retrans money.

Graham Holdings Co. today reported first quarter earnings that included revenue from its television broadcasting division, Graham Media Group, of $92 million, an increase of 10% from $83.6 million in the same period of 2015.

The company said the Graham Media revenue increase is due primarily to $4.8 million in increased retransmission revenues and a $2.8 million increase in political advertising revenue.

TV operating income for the first quarter increased 7% to $41.2 million, from $38.6 million, the company said, due to the revenue increase, offset somewhat by higher spending on digital initiatives and increased network fees.

The company as a whole, Graham Holdings, reported revenue of $601.7 million, down 7% from $647.4 million in the first quarter of 2015. Operating income was $51.9 million for the first quarter, compared to $8.9 million for the first quarter of 2015.

Read the company’s report here.

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