Belo Corp. Gains Big From Political, Olympics Revenue
Strong political and Olympics advertising revenue lifted Dallas-based TV
group Belo Corp. to double digit percentage gains in the third quarter.
"We generated $17.7 million in political revenue and $13.4 million in Olympics revenue in the third quarter of 2012, both of which were significantly higher than we recorded in the third quarter of 2008," said Dunia Shive, the company's president and CEO, in a release.
Net earnings nearly doubled, from 13 cents to 24 cents a share.Belo's TV station business had a 50% improvement in cash flow -- earnings before interest, taxes, depreciation, and amortization.
Total spot revenue, including political, climbed 18%. Taking out political, spot revenue, was up 5.1%. This came from a 4.6% improvement in local spot business and a 5.8% gain in national spot revenue.
Other revenue -- Internet advertising, retransmission revenue, and barter and trade advertising -- gained 9%. Belo says both Internet and retransmission revenue had double-digit percentage increases during the period.
Looking ahead, Belo expects total fourth quarter political advertising to finish between $29 million and $30 million.
Recent MediaDailyNews Articles
-
Original 'Voice' Judges Return May 17, 5:41 p.m.
The original quartet of coaches for “The Voice” will return for the fifth season this fall. ... -
Van Wagner Partners With CineSport For Online Video May 17, 5:34 p.m.
Van Wagner Communications’ Sports and Entertainment division is joining forces with CineSport, partly owned by Van ... -
'Idol' Falls, 'Bang' Leads Thursdays May 17, 3:38 p.m.
TV broadcast networks environment is definitely shifting -- as evidence of last major night of the ... -
Sapient Revs Up 12%, Optimistic About 2013 May 17, 2:47 p.m.
Marketing services company Sapient reported first-quarter revenues of $292.6 million, up 12% from the same period ... -
KSE Finalizes Outdoor Channel Buy May 17, 11:08 a.m.
An entity controlled by sports entrepreneur Stan Kroenke has finalized its acquisition of the Outdoor Channel ... -
'Tonight' Still King Of Late-Night TV May 17, 10:49 a.m.
While NBC proceeds to sets up its late-night changes for next year, "The Tonight Show with ... -
U.S. Open Going Cable-Only, Moves To ESPN May 17, 9:18 a.m.
After decades on the network that saw stars from Ashe to Navratilova to Federer win, the ... -
USA Looks To Make Comedy King In The New Season May 16, 10:22 p.m.
What do you do when you’re the last network putting on the last event of the ... -
Comedy Central Goes Dark To Simulcast New Radio Channel May 16, 6:12 p.m.
For the first time since its tribute to Johnny Carson 20 years ago, Comedy Central will ... -
MGM Doubles Revs, 'Hobbit' Helps May 16, 5:56 p.m.
A big positive swing for MGM Holdings was seen in its first-quarter earning results, thanks to ...
Be the first to comment on "Belo Corp. Gains Big From Political, Olympics Revenue"
Leave a Comment