Journal’s Same-Station 2Q TV Rev Up 6.9%

Journal Communications today announced that in the second quarter of 2013 its television station revenue increased 22.5% to $43 million, or 6.9% on a same-station basis, excluding political.

Television political advertising revenue was $200,000 compared to $5.2 million.

Local advertising revenue, excluding political, increased 43.2%, or 6.8% on a same-station basis, primarily due to an increase in automotive advertising.

National advertising revenue, excluding political, increased 31%, and declined 1% on a same-station basis, primarily due to decreases in media and restaurant advertising.

Operating earnings from television stations were $8.5 million, a decrease of 2.2%, or a decrease of 48.2% on a same-station basis, excluding acquisition costs, both due to the loss of high-margin political revenue in 2013.

Television operating expenses increased 30.6%, or 4.9% on a same-station basis, excluding acquisition costs, primarily due to increases in network fees and employee-related costs.

“Journal Communications had a solid second quarter, driven by revenue gains in our broadcast group, as well as improving advertising revenue trends in publishing,” said Steven J. Smith, chairman-CEO of Journal Communications. “Total revenue of $101.2 million was up 6% year over year. Operating earnings decreased 2.6% as lower political revenue offset operating earnings increases in broadcast, driven by NewsChannel 5 [WTVF] in Nashville, as well as higher earnings at our daily newspaper.”

“Within the Broadcast group, we continue to see core revenue growth. On a same-station basis and excluding political advertising, revenue was up 6%, with television up 7% and radio up 5%.”

Read the company’s report here.