TV Station Groups Sinclair, Gannett Soar in 4th Quarter TVNewsCheck
Revenues for the Sinclair Broadcast Group soared 58.8% in the 4th quarter, compared with a year earlier, reports TVNewsCheck. Similarly, TVNewsCheck separately reports that "Gannett Co. reported strong fourth quarter financial results that included total television revenues that were 45.7% higher" than a year earlier.
In its story about Sinclair TVNewsCheck writes, "Sinclair Broadcast Group reported net broadcast revenues from continuing operations rose 58.8% year-over-year to $287.1 million in the fourth quarter of 2012 and were up 42.1% year-over-year to $920.6 million for all of 2012.
"The year was 'remarkable,' said CEO David Smith in a statement. 'We successfully closed on 30 TV stations, recorded record levels of political advertising, benefited from a rebound in the automotive advertising category, and achieved historic levels in key financial metrics. As we look forward to 2013, we are very excited about our prospects, including starting the year with the Super Bowl on our 11 CBS stations. While we have led the current consolidation trend in the broadcast industry, we believe there are still many opportunities for us to continue to acquire quality television assets, unlock hidden value, and strengthen our competitive position.' "
Writing about Gannett, TVNewsCheck said revenue "totaled $280.2 million compared to $192.4 million in the previous fourth quarter.The revenue growth was driven by $91.2 million in politically related advertising during the fourth quarter of 2012.
"Retransmission revenues were $29.6 million in the quarter compared to $21.4 million in the fourth quarter a year ago, an increase of 38.7%.Television station digital revenues were 4% higher than the fourth quarter of 2011.For the full year, broadcasting revenue was up 25.4%."
For more detailed financials for Sinclair and Gannett, please click on the links above.