TV revenue up 38% over last year's same period
Gannett Co., which owns The Indianapolis Star, the Louisville Courier-Journal and St. Louis NBC affiliate KSDK-5, today reported third quarter results that included record revenue and operating results for its broadcasting segment.
The company as a whole reported that its total operating revenues in the third quarter were 3.4% higher than the prior year and totaled $1.31 billion. TV revenues were up 38.1% to $233 million, compared to $168.8 million in 3Q2011. Approximately $4 million of political spending that aired during the Olympics is included in both the political and Olympic categories.
"Our TV stations leveraged top 10 ratings positions and a more locally focused sales effort to generate substantially higher Olympic spending," said Gracia Martore, Gannett's president and CEO. "Through strong ratings and a great footprint, they also maximized the opportunity to attract political spending."
On the newspaper side of the business, Martore said that the company's new paywalls are working. "The early success of our new, all access content subscription model resulted in significant growth in company-wide circulation revenue, the first increase since early 2007," she said.
Read the company’s full report here.
Read the company’s full report here.
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