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Loss of Political Ads Blamed for Young Decline

Nov 8, 2005  •  Post A Comment

Young Broadcasting said Tuesday that a decline in political advertising revenue took its toll on the broadcaster’s third-quarter results. The company reported a wider loss and a double-digit decline in revenue.

Young, which owns 10 television stations, reported red ink of $21.2 million, compared with a year-earlier loss of $12.1 million. Revenue fell to $47.5 million from a year-earlier figure of $54.1 million. The company blamed the results on the absence of $6.4 million in political advertising revenue that it had last year.

In other news, Young reported that it struck a new five-year affiliation agreement with ABC that covers the company’s five ABC affiliates.