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Article: Biz Briefs; Dark Cloud Over Omnimedia Results in Q1 Loss.(Briefs)(Martha Stewart Omnimedia, Granite Broadcasting, Clear Channel financials)
- Article from:
- TelevisionWeek
- Article date:
- May 5, 2003
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Martha Stewart Living Omnimedia swung to a first-quarter loss of $7.5 million, as the dark cloud over Chairman and CEO Martha Stewart's sale of ImClone Systems shares combined with lower revenue from her syndicated TV series to weigh on the company's performance.
A year earlier, the company reported a profit of $5.8 million. Revenue for the period slipped nearly 15 percent to $58 million, while earnings before interest, taxes, depreciation and amortization were negative at minus-$5.4 million from $6.8 million a year earlier.
In terms of the company's television assets, the company said its TV revenues fell 1 percent to $6.7 million, as strong revenue ...