Gray Television, Inc. has announced an increase in its record revenue estimates for the three-month period ending December 31, 2012 (the "fourth quarter of 2012").
Last week, Gray, which owns and operates Bowling Green ABC/Fox/CW affiliate WBKO, issued guidance relating to certain expected fourth quarter 2012 operating results. Through Tuesday, the company reports that it has earned "significantly more" political advertising revenue than previously anticipated.
The updated political advertising revenue estimates for the fourth quarter of 2012 would represent new record levels for a fourth quarter; the previous actual record was $33.1 million in 2010. For the year ending December 31, 2012, the company anticipates total political advertising revenue to range between $85 million and $86 million, compared to its previous annual record political advertising revenue of $57.6 million in 2010.
"We also currently anticipate that our total annual revenue for 2012 will exceed $400 million, compared to our previous annual record revenue of $346.1 million in 2010," the company said in a statement.
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