Young Broadcasting Q3 Loss Widens

Nov 8, 2004  •  Post A Comment

Young Broadcasting on Monday reported a third-quarter loss of $12.1 million, about flat with last year, even as the 10-station group generated robust political revenue growth.

Revenue rose to $160.1 million from a year-earlier $145.6 million, driven by improvements in advertising revenue from political campaigns. Political advertising spending hit $6.5 million in the quarter, compared with a year-earlier figure of $1.8 million.

Despite the revenue gains, Young’s expenses rose in the quarter due to the launch of morning news shows on five ABC affiliates.