New analysis of local television stations shows that revenues of U.S. broadcasters spiked by double-digit percentage increases in the second quarter.
Media investment firm New York-based M.C. Alcamo & Co. said big U.S. TV station groups had a 12.1% gain in revenue to $1.6 billion. This rise was led by Fisher Communications, which witnessed revenues climbing 27.7%; Meredith Broadcasting, 23.4% higher; and E.W. Scripps, up 22.4%.
Profit margins also gained for TV station groups -- growing 5 percentage points on average, to 39% from 35%. The biggest surge came from Sinclair Broadcast Group, which now touts a 47% profit margin. Fisher Broadcasting, a medium-sized TV company based in Seattle, had an 11% improvement in profit margins to 22%.
Seven "pure play" broadcast TV station groups had a reported $99.0 million gain in incremental revenue and $69.1 million in incremental cash flow -- earnings before interest, taxes, depreciation, and amortization (EBITDA). Total revenue was $694 million -- up 16.7%, from the second quarter of 2009.
Those seven include Belo Corporation, Entravision Communications, Sinclair Broadcast Group, Fisher Communications, Lin Television, Nexstar Broadcasting and Gray Television.
M.C. Alamo & Co. says eight other media companies, which have newspaper and other media operations, grew more slowly -- 9% in the second quarter to $957 million. This group includes Gannett Company, E.W. Scripps, Washington Post, Media General, Saga Communications, Meredith Corp., Journal Communications and McGraw-Hill. ______________________________________________________________________