- In the fourth quarter, revenue decreased 7.2% to $20.5 million or 2.3% excluding the extra week on a same-station basis. Radio political revenue was $0.1 million compared to $0.7 million. On a same-station basis, excluding political and the extra week, total revenue increased 0.6%, local revenue increased 0.1%, though national revenue decreased 22.8%.
- In the fourth quarter, operating expenses decreased 12.0%. On a same-station basis, excluding special items and the extra week, expenses decreased 1.7%. Operating earnings were $4.3 million.
- For the full year, revenue increased 0.7% to $76.8 million or 1.7% on a same-station basis excluding the extra week. Radio political revenue was $0.4 million compared to $1.7 million. On a same-station basis excluding political and the extra week, total revenue increased 3.7%, local revenue increased 3.5%, though national revenue decreased 8.9%.
- For the full year, operating expenses increased 0.8%. On a same-station basis excluding special items and the extra week, expenses increased 4.9% due to a favorable music license fee settlement recorded in 2012, partially off-set by higher employee costs. Operating earnings from radio were $14.0 million.
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| Steven J. Smith |
“Within the broadcast group, same-station core revenue, excluding political and the extra week, was up 7%, with television up 11% and radio up 1%. Television retransmission revenue more than doubled to $5.9 million. The daily newspaper continues to benefit from an improved advertising environment. Advertising revenue, excluding the extra week, was flat. Focused sales efforts, along with ongoing expense controls, contributed to a 2% increase in operating earnings for the daily newspaper.”
“Overall, in addition to growing core revenue, we enhanced our digital offerings and content in both broadcast and publishing, and continued to deliver on our financial commitments and strategic plans.”
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