Graham Posts 10% Rise In 1Q TV Revenue

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.