Tribune Media posted higher first-quarter revenues, with political advertising and retransmission fees helping to pump up results. TVNewsCheck reports that the company brought in $454.7 million in revenue for its Television and Entertainment segment, vs. $410.3 million in the year-ago period, up $44.4 million, or 11%.
“The company said the increase was driven by higher net political advertising revenue of $13.3 million; a 21% increase in retransmission consent revenue to $83.5 million; a 44% increase in carriage fee revenue to $31 million; and a 2.2% increase in core advertising revenues to $291.8 million,” the story reports.
TVNewsCheck adds: “Adjusted EBITDA for the first quarter of 2016 was $116.0 million compared to $135.0 million in the first quarter of 2015. Tribune said that adjusted EBITDA was impacted largely by a planned increase of $25 million in programming expenses and $16 million of promotion expenses, primarily associated with premiering the original series ‘Outsiders’ and ‘Underground’ on WGN America.”