01.27.2009 11:45 AM
McGraw Hill TV Stations Post Increase

The broadcast group within New York publishing giant McGraw-Hill generated $107.1 million in revenue for 2008, up 4 percent over 2007, the company reported this week. Revenues in 4Q were up 11.3 percent to $31.8 million, buoyed by political advertising. TV station profit was not broken out. McGraw-Hill (NYSE: MHP) has four high-powers and three low-power stations in Denver and Colorado Springs, Colo.; San Diego and Bakersfield, Calif., and Indianapolis.

Over all, MHP reported net income of nearly $800 million on revenues of $6.4 billion for the year. Both were down, 21 and 6 percent respectively, from 2007. Net income for 4Q dropped 18 percent to $116 million, or 37 cents a share, on revenues of $1.4 billion, which were down 10 percent from 4Q07. Restructuring cost MHP about 5 cents a share during the quarter. The company warned that revenues were expected to drop by up to 2 percent for the coming year.

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Thursday 10:05 AM
NAB Requests Expedited Review of Spectrum Auction Lawsuit
“Broadcasters assigned to new channels following the auction could be forced to accept reductions in their coverage area and population served, with no practical remedy.” ~NAB

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