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Saturday, March 14, 2015

Journal Radio Has Solid Quarter


The board of Scripps has to be happy with the results from Journal Communications with the merger between the two companies set for Q2. Saga excluded, much of the radio sector reported a rough go in the quarter, not so for Journal. Revenue and operating earnings were both up in the radio division, and were attributed to earnings improvements, especially in the local sector.

Radio revenue of $22.1 million was reported, that's up 7.7 percent; excluding the fiscal year change-up, the figure was 5.5 percent. Excluding political and issue, the total revenue increased 4.9 percent, local revenue increased 6.5 percent. National was down 0.9 percent. The radio division was up 3 percent over the full year, to $79.1 million. Political attributed $1.3 million to the earnings. Local revenue increased 2.6 percent; national revenue was down 6.6 percent.

Journal noted that automotive revenue was a significant growth factor for radio -- it was up 13 percent. The fourth quarter automotive category was particularly strong, up 13 percent, and also on the year, automotive was up 3 percent. Automotive was attributed as a big factor for Journal's strong local revenue performance.

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