Journal Communications reports profits up
Wisconsin Business-- Wisconsin’s largest media company had a nearly 24-percent increase in its quarterly profits. Journal Communications of Milwaukee said today that it netted $7.6 million from April-through-June, up from $6.1 million in the same period a year ago.
MILWAUKEE - Wisconsin’s largest media company had a nearly 24-percent increase in its quarterly profits. Journal Communications of Milwaukee said today that it netted $7.6 million from April-through-June, up from $6.1 million in the same period a year ago.
Earnings rose from 10-cents a share to 13-cents. The company credited heavy political spending, mainly from the Walker recall attempt. And CEO Steve Smith cited a continuing economic recovery in many of its markets with broadcast stations. Journal Communications said it total revenues were $95-and-a-half million in the last quarter, up six-percent from the year before. But revenue from the publishing division fell almost seven-percent, due to continued declines in retail and classified advertising.
Journal Communications owns the Milwaukee Journal-Sentinel – and it operates or provides services to 35 radio stations and 14 TV stations in a dozen states.
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