Meredith’s local TV stations and print circulation revenue boosted the company’s overall media results for its fiscal fourth-quarter 2013 reporting period.
For all media
business, Meredith’s revenues were up 3% to $386.9 million, up from $374.5 million. Net income was 13% higher -- to $33.8 million from $29.98 million.
For TV businesses, under its
Local Media Group, revenue climbed 9% to $92.4 million from $84.7 million in the second quarter of 2012. The division gained major results its “other revenue” category, which includes
mostly retrans fees from cable, satellite and telco operators. It more than doubled, to $22.4 million from $12.0 million.
TV core advertising revenue for its stations was virtually the same
-- $69.4 million, up from $69.0 million. Political advertising dropped by two-thirds $725,000 from $3.271 million.
National Media Group, Meredith’s print properties, witnessed
slightly lower advertising revenue to $134.3 million from $137.7 million. But the print business grew its circulation revenue 12% to $87.9 million from $78.4 million. Overall, national media revenues
were up 2% to $294.6 million.
Meredith’s digital businesses continue to grow. Its print business digital advertising revenues increased 62%, while its TV digital advertising revenues
rose 8%. Digital advertising revenues are now 11% of Meredith's total annual advertising revenues