• by Wayne Friedman , August 8, 2006

TV and radio station groups have been hit hard in recent months by lower ad sales from its top category--automotive. But one TV station group has shifted into high gear.

Fisher Communications, the Seattle-based operator of 12 TV stations and 27 radio stations, has outperformed most other TV station groups. Fisher said revenue was 9 percent higher in the second quarter and slightly more than 9 percent higher for the first half of 2006, compared to the same periods last year.

Revenue for the second quarter grew $3.3 million or 9 percent to $40.2 million, while revenue for the first half rose $6.1 million or 9.3 percent to $71.3 million.

The same can't be said for LIN TV, a bigger station group that also reported second-quarter results. It pulled in revenue 1 percent higher in the second quarter versus the same time period a year ago. That was slightly better than the flat-revenue estimate the company said it would do.

The Providence-based LIN, which comprises 30 TV stations in 18 markets, reported a pro forma net loss of $244.4 million in the second quarter, compared to an $11 million gain in 2005. LIN acquired seven TV stations during the year and took a write-off of $333.6 million in goodwill. The company said its expenses also included $12.8 million in corporate overhead--compared to $5.1 million in second-quarter 2005--that included a $5.6 million charge related to the retirement of former CEO Gary Chapman.

LIN witnessed a 4 percent decline in domestic auto ads, but grabbed a 6 percent rise in foreign auto ads. Overall, this resulted in a 1 percent decline for auto advertising.

And, much like other TV station groups, LIN witnessed higher political ad spending--up $2.4 million from 2005. LIN expects third-quarter revenue to be up by mid-single percentage increases in the political ad arena. The company says it would have been higher, but has suffered from declines in network compensation.