Journal Communications posts 73 percent increase in profits
Wisconsin Business-- Wisconsin’s largest media company had a 73-percent jump in its quarterly profits, mainly because of all the political ads on its TV and radio stations.
MILWAUKEE - Wisconsin’s largest media company had a 73-percent jump in its quarterly profits, mainly because of all the political ads on its TV and radio stations.
Journal Communications of Milwaukee reports a net income of $7.7 million for July-through-September. That’s a $3.3 million dollar increase from a year ago, where there were no national-or-statewide contests in November. Earnings were doubled, from seven-cents-a-share to 14. CEO Steve Smith said broadcast revenues were up by 25-percent, due mainly to political and issue ads. He also said its NBC stations benefited from the highly-rated Summer Olympics from London.
Journal Communications owns the Milwaukee Journal Sentinel, plus 14 TV stations and 35 radio stations around the country.
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