Acme Narrows Loss in Q4

Mar 29, 2006  •  Post A Comment

Acme Communications the broadcaster that owns seven WB affiliates and one UPN affiliate, reported a narrowed fourth-quarter loss of $5.6 million, compared with a year-earlier loss of $6.8 million. Revenue was up 2 percent to $10.6 million.

For the year, the Santa Ana, Calif.-based company reported a net loss of $15.9 million, compared with year-earlier red ink of $17.5 million. Revenue was $40.9 million, compared with a year-ago figure of $39.3 million.

Acme earlier this month struck an affiliation agreement with The CW for all of its WB-affiliated stations, and reached a pact with MyNetworkTV for the station currently affiliated with UPN.

The company, which is exploring strategic alternatives including a sale, said the improvement was driven in part by strong revenue at “The Daily Buzz,” a morning news program that Acme produces with Emmis Broadcasting.

What’s more, the company reported a 9 percent increase in local advertising revenue, though that was partly offset by a 12 percent decline in national advertising revenue.