Media General Registers Olympic Ad Boost

Olympic rings

Could NBC Universal reduce its expected $250 million loss on the Olympics? Despite press releases during the 2008 Summer Games touting ad dollars flowing in, it has been quiet about results from Vancouver.

But one of its affiliate groups, Media General, released figures Monday showing its sales for the Olympics were about 9% better than expected -- suggesting NBCU may have stanched some red ink.

Close-to-air buys before events such as the Canada-U.S. hockey final could have helped Media General see Olympic revenues come in at $7.6 million, up nearly 9% above its projections.

The company operates eight NBC affiliates, including the Tampa, Fla. outlet and four stations owned by NBC that it purchased in 2006, in markets such as Raleigh-Durham, N.C.

Even with "American Idol," the Tampa station had the highest household ratings in the market for each night during the Games. Media General said its Columbus NBC outlet in the 34th-largest DMA ranked 7th in "average audience rating" during the Games, among Nielsen-metered markets.

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A sign of how difficult the local station business was a year ago: For the first two months of 2010, Media General's revenues were up only 11% -- even with the massive Olympic infusion and $1.1 million in political dollars.

Company stock climbed about 4% in midday trading Monday to the $9 range.

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