Local ad revenues for two more station groups declined in the third quarter.
The story about CBS says: "The company added that revenues for CBS Television Stations also reflected higher retransmission revenues and improvement across key advertising categories, including financial services and domestic auto. Local broadcasting (TV and radio stations) revenues dropped 3.2% to $656 million from $677 million in the year-earlier quarter. It said this was due to substantially lower political spending."
The story added that CBS Corp. "as a whole increased 2% to $3.37 billion from $3.30 billion last year."
As for Gray Television, that story said: "The decrease was due to the lack of political advertising, compared to last year’s robust third quarter, and a depressed national advertising climate. On the plus side, local and internet advertising grew, as did retransmission consent revenue."
TVWeek previously reported 3rd-quarter revenue declines for for TV stations owned, separately, by Belo and LIN.