Meredith's TV Stations Air 60% Ad Rev Rise

Benefiting from TV station acquisitions, Meredith's new group of 17 TV stations witnessed strong advertising growth for its fiscal 2015 second quarter.

Advertising revenue rose nearly 60% to $125 million — with overall revenue up 50% to $157 million. Non-political advertising revenues added on 22% to $95 million, up from $78.3 million.

“Other revenues,” which include retransmission revenues, were up 25% to $31.8 million, with political advertising revenue at $29.3 million during the period, versus $718 in the comparable second-quarter 2014 period.

Operating profits — excluding special charges — were up 64% to $60 million. Revenues for its National Media Group segment — its magazines — grew to $116.7 million from $114.5 million.

Overall company net earnings were $39.6 million versus $30.6 million. Meredith stock closed up just under 1% to $53.62.

Meredith sees similar results in the coming period for its TV stations — up 25% to 30% in its third quarter period; and up low single-digit-percentage revenue gains for its National Media Group.



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