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Article: Campaign Ads Brighten Profits.(TV Currents)
- Article from:
- TelevisionWeek
- Article date:
- July 19, 2004
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jay Sherman
Political advertising proved to be the gift that kept on giving in the second quarter, as a number of companies that own television stations posted robust profit and revenue figures, largely thanks to campaign ads.
E.W. Scripps Co., Gannett Co., Media General and The New York Times Co. all said their TV stations benefited from heavy spending by political campaigns. Only Tribune Co. posted more modest results.
Scripps reported a 34 percent increase in second-quarter profit to $86.4 million compared with $64.7 million, driven by strong results at the company's cable networks and broadcast stations. Revenue rose 15 percent to ...