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/ 05.18.2010 12:00AM
Estrella TV Drives Revenues for LBI
BURBANK, CALIF.:
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. LBI posted revenues of $23.6 million versus $21.5 million for the
first quarter last year, which it adjusted for accounting errors. Net loss was
$2.5 million versus $37.7 million last year when LBI took a $51.5 million
impairment charge on broadcast licenses.
LBI’s TV division, including Spanish-language broadcast network Estrella and
the company’s growing stable of O&Os, generated $11.8 million, up 22
percent from a year ago. The growth was attributed to increasing revenues as
Estrella collects more affiliates, and to LBI’s expanded presence in California
and Texas. Radio revenues were flat, and equal to TV revenues, at $11.8
million.
“We are encouraged by our improving financial results and the positive trends
we are seeing in the advertising market,” said LBI president and CEO, Lenard
Liberman. “EstrellaTV, our national television network, continues to perform in
line with our expectations while also securing further distribution gains.”
LBI most recently added affiliates in Greensboro, N.C., and Omaha, Nebr., and
secured Nielsen measurement in March. The company said Estrella TV now covers
about 75 percent of U.S. Hispanic TV households.
“Our focus for the balance of 2010 is sustaining the momentum generated during
the first quarter and building upon our successes,” Liberman said. “We will
continue to strengthen our lineup by introducing new and innovative
programming, pursue additional opportunities for expanding the distribution of
EstrellaTV and effectively utilize our radio and TV broadcasting assets to
drive increased revenue and ratings performance.”
-- Deborah D. McAdams
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