Advertising revenues were down slightly down to $319.5 million from $321.9 million for the Chicago-based TV station group. Core advertising was 4.3% higher. The NFL season started a week later than a year ago, taking some premium inventory out of market.
TV and entertainment revenues were up 3% to $429.7 million, while local station retrans grew 20% to $69.9 million. For its WGN America cable network, carriage fees grew 40% $19.5 million.
Digital and data revenue were 7% higher to $46.6 million as a result of new acquisitions. Infostrada Sports, SportsDirect, Covers and Enswers Inc., acquisitions were made in the second-quarter 2015.
Total revenue were up 3% to $488.6 million. Net income sank 27% to $27.9 million.
The stock market was not impressed -- due to missed estimates. The company’s stock down nearly 6% to $37.95 in mid-day trading on Tuesday. The company’s shares have lost around 33% since the beginning of the year.
advertisement
advertisement