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Journal reports 2.7% higher radio revenue
Journal Broadcast Group says third quarter revenues for the radio sector improved from $18.5 million to $19 million, while operating earnings slipped from $4.5 million to $4.1 million. Expenses grew more than 6%, "mainly due to higher employee-related expenses and promotion costs." Political and issue advertising was about $400,000 in both years. Radio looked better than Journal TV, where topline revenue fell nearly 7% to $27.9 million. That was almost entirely due to last year's political and issue advertising, which didn't recur here in 2011. Journal Communications Chairman/CEO Steve Smith says "effective cost management remains a company-wide priority", and it continued trimming expenses, especially at the newspaper division.
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