Media General reports net loss, CNN has higher ratings

August 8, 2013
Category: Uncategorized

Media General | TVNewsCheck | Los Angeles Times

Media General reported a net loss of $16 million in the second quarter of 2013, but revenues grew in several advertising categories, including automotive, furniture and home improvement.

Revenue from political advertising fell 86 percent, not exactly a surprise in an odd-numbered year. Also missing this year: Olympics revenue. “Total station revenues in the third quarter this year will decrease due to the near absence of these revenues,” the company says in its earnings release.

The company spent $19.5 million on interest in the second quarter. Retransmission fees increased, as did digital revenue.

Time Warner announced its second quarter earnings Wednesday, reporting a 10 percent rise in revenue. CNN’s ratings were up “almost 70 percent in its key demo,” the company’s release says.