Paxson Reports Wider Q2 Loss

Aug 5, 2004  •  Post A Comment

Paxson Communications on Thursday reported a widened second-quarter loss of $48.8 million, or 72 cents a share, compared with year-earlier red ink of $17 million, or 25 cents a share, even as the company booked a 6 percent increase in revenue to $69.9 million, lifted by paid programming revenue.

The results came as the West Palm Beach, Fla.-based company prepared to launch its most aggressive prime-time slate this fall. Already, the re-energized effort to turn around its weak ratings is bearing fruit, according to Paxson President Dean Goodman, who said ratings among total viewers rose 13 percent in the quarter vs. a year ago.