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Items Tagged With: “Journal Communications”
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Journal's radio revenues up in 1Q 2012
In its first quarter 2012 financial results, Journal Communications reports total revenues of $82.3 million, down 1.9% from $83.9 million in the same 2011 quarter. But there’s good news for the company’s radio arm, which saw revenues increase 1.5% to $14.9 million from $14.7 million in the quarter that ended March 25. Read More
Journal Broadcast Group buys Renda's "K-Hits" and "Bob" in Tulsa
The stations are Top 40 "K-Hits" KHTT, Muskogee (106.9) and variety hits "Bob FM" KBEZ (92.9). They are both full Class C facilities, and they become Journal's fourth and fifth stations in Tulsa, Arbitron market #66.
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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.
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Radio stocks follow along with Wall Street's massive selloff
On a day when stocks sold off worldwide and the Dow Jones Industrial Average plunged over 500 points at one point and eventually closed down 390 points, radio stocks felt the pressure. However, one radio stock was actually one of of the biggest overall Dow gainers of the day.
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Some radio stocks are hit especially hard in stock market selloff
The broader indexes were down 4-5%, and a few radio stocks escaped serious bloodshed. Beasley and Saga were down less than 1%, and Internet radio stock Pandora actually gained 2%.
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Journal Communications radio reports revenue down about 2% for Q2
Milwaukee-based Journal says it wasn't a case of political advertising falling off from an election year, since it billed about $200,000 in both second quarter 2010 and 2011. It was able to reduce radio operating expenses slightly (0.5%) and as a result, kept the drop in operating earnings from radio to about 6%, to $4 million.
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Journal Communications radio stations report 3.4% higher Q1 revenue
Journal says its expenses grew at double that rate, up 7.2%, "primarily due to broadcast sports fees." The 3.4% growth rate for the radio division was better than that for Journal television, where revenue slipped by the same amount - down 3.4%. That was mostly due to revenue from the 2010 Vancouver Olympics which didn't recur in 2011.
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Journal radio stations grew revenue by 6.2% in the latest quarter
Politics helped, says Milwaukee-based Journal Broadcast Group, with political and issue advertising hitting $700,000 for the last three months of 2010. For the full year, Journal stations harvested $1.3 million from the "political and issue" category.
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Journal's radio revenues improved 3% in the third quarter
Not much boost from political, at least through the end of September, says Journal. Its “political and issue advertising” category was up from a non-election year $100,000 to this year’s $400,000.
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Journal to resume matching employee contributions to the 401(k) plan
Like many other companies, Milwaukee-based Journal Communications suspended its employer match as the economy worsened. That was in February 2009.
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Radio stocks have been sliding – quietly but sharply
A number of radio company stocks have hit static since rebounding and hitting highs in the spring. A share of Radio One stock (ROIAK) was $5.28 on May 4.
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Radio revenue at Journal Communications grew 3.5% in the latest quarter
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.
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The hidden surprise on Wall Street – Radio company stocks are hot, compared to earlier this year
When the recession hit its hardest, radio company stocks were hitting historic lows in February, almost on a daily basis. As Wall Street has climbed back, so has the value of radio stocks. Read More
Journal Communications is the latest company to suspend its dividend
CEO Steve Smith in Milwaukee says it’s more important to pay down its debt – “While we regret having to make this difficult decision, we believe this is the prudent choice in order to maintain financial flexibility.” The suspension affects Class A and Class B shares of the publicly-traded “JRN” – and it even temporarily affects the holders of Class… Read More
Journal's radio revenues dropped about 8% for the fourth quarter
Chairman/CEO Steve Smith opens his conference call saying that “business conditions deteriorated throughout the year”, while broadcasting head Doug Kiel reports that “what we’re seeing now is very much what we saw in the last part of the fourth quarter.” So Journal’s braced for “a prolonged recession.” The company is making some important strategic… Read More
Radio stocks glad to bid adieu to 2008
When companies and shareholders look back at 2008, they’ll remember a year when debt and a horrendous advertising climate decimated companies, turning multi-billion dollar businesses into penny stocks. Shares of Sirius XM (SIRI) plummeted post-merger, ending 2008 at just 12 cents, down 96% for the year. Read More
