Two TV station groups reported revenue declines in the third quarter.
LIN TV Corp. said, "Net revenues decreased by 3% to $100.8 million, compared to $103.6 million for the third quarter of 2010," according to a company press release found at TheStreet.com.
Separately, Belo Corp. "Thursday reported third-quarter net earnings of $13.71 million compared to $13.95 million a year ago," reports RTT news, which adds, "On a per share basis, profit remained flat with the prior year at $0.13."
The LIN press release adds, "Net income per diluted share was $0.05, which includes a charge for a special item of $0.03 per share, compared to net income per diluted share of $0.15 for the third quarter of 2010."
The LIN announcement also notes, "Digital revenues, which include Internet advertising revenues and retransmission consent fees, increased by 38% to $22.1 million, compared to $16.0 million for the third quarter of 2010. Political revenues decreased by 78% to $2.8 million, compared to $12.5 million for the third quarter of 2010."
About Belo, B&C says, "Total spot revenue, excluding political, was down 2%, with local spot flat and national spot down 5%. Political revenue in the third quarter of 2011 was $2.1 million, compared to $11.2 million in the third quarter of 2010. Belo’s total spot revenue, including political, was down 9% in the third quarter."