Journal Communications Q3 earnings

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Posted by DJ Dude on October 31, 2014 at 16:00:15:

Does that mean they generated $57+ million in Q3 from print+online editions of its print publications?

Political ads, retransmission revenue drive up Journal Communications earnings

By Duane Dudek of the Journal Sentinel

Journal Communications announced an 8% increase in third-quarter revenue, driven by a 22% increase in television revenue, according to TVNewsCheck.

Steve Smith, chairman and CEO, made the announcement in an earnings report Thursday.

Revenue was $105 million, with TV revenue at $47.9 million.

Smith said the increase was due to "continued growth in retransmission revenue," which was $9.6 million, and "significant" political and issue advertising of $3.9 million.

Last year, Journal TV stations were off Time Warner Cable systems for two months during a dispute over retransmission payments by the pay-TV service to retransmit programming by Journal stations - including WTMJ-TV (Channel 4). Time Warner said WTMJ asked for a 200% fee increase; Journal Broadcast said it sought an increase of pennies a day.

In July, Journal Communications announced plans for a merger with E.W. Scripps Co. to combine broadcast operations of both and spin their combined print operations - including the Journal Sentinel - into a new company.

Many of the new group's stations will be in battleground states and will reap revenue from political advertising during the 2016 presidential campaign.

The merger is expected to take effect in 2015.

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