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/ 08.16.2010 12:00AM
Estrella TV Boosts LBI Revenues
BURBANK, CALIF.: Liberman Media posted a second-quarter loss of
$1.3 million on revenues of $30.7 million. Revenues were up 9 percent from
restated results from a year ago, when Liberman posted net income of $481,000.
Liberman said the change was “attributable to the increases in program and
technical expenses and broadcast license and long-lived asset impairment
charges, partially offset by higher net revenues, and lower income tax
expenses.”
“Our second quarter results represent our second consecutive quarter of
year-over-year revenue growth, which was driven by improvement in our TV segment
and by the performance of Estrella TV,” said company President and CEO Lenard Liberman.
“We remain pleased with the performance and steady distribution gains of
Estrella TV.”
Estrella is the Spanish-language network launched by Liberman last fall. It
gained three affiliate agreements during the quarter, when the acquisition of
KETD in Denver was also completed.
Estrella and Liberman’s eight TV stations generated $14.3 million in revenue,
up nearly 26 percent from last year. The increase represented the industrywide
boost in advertising in addition to Estrella’s growth.
“Estrella TV continues to deliver solid performance in the Nielsen ratings,”
Liberman said. “We ranked fourth among the many nationally rated Spanish-language
television networks in primetime for May sweeps in the adult demographics. We
expect our ratings performance to improve as we continue to invest in our
internally-produced programming, add new affiliates and further expand our
distribution platform.”
Liberman also owns 21 radio stations that generated $16.4 million, down 2
percent. Liberman ended the quarter June 30, 2010, with cash and equivalents of
$491,000, and long-term debt excluding current portion of $391.7 million. The
June figures compare to $178,000 cash and $375.5 million in long-term debt Dec.
31, 2009.
-- Deborah D. McAdams
May 18, 2010: “Estrella TV Drives
Revenues for LBI”
Liberman Broadcasting Inc., parent company of Estrella TV, ended the first
quarter with a 10 percent increase in revenues over last year’s restated
results.
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