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Wednesday, July 21, 2010

Radio revenue at Journal Communications grew 3.5% in the latest quarter

Journal Broadcast Group

So far, “political and issue advertising” is flat from last year, a non-election year, though the industry expects third quarter to show improvement. Milwaukee-based Journal says operating earnings from its radio division grew from $3.5 million to $4.2 million, while operating expenses were flat. Total revenue grew 3.5% to $17.7 million, with Journal reporting a gain of $1.7 million related to an insurance payout from the tower replacement in Wichita, but also an impairment charge on the value of some licenses of $4.1 million. Journal took a much larger impairment charge at its TV division – $14.8 million.

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