03.20.2008 10:12 AM
Retrans, ’Net and Local Offset Political and National Dip for Gray in ‘07
Gray Television said its fourth-quarter revenues fell on tumbling political advertising revenue. Net revenues across the company’s 36 TV stations decreased $17.6 million to $84.3 million on political, which was offset somewhat by local, national and ‘Net advertising.

For the quarter, political ad revenue fell 90 percent, to $2.6 million, compared to the same period a year earlier. Local was up by $3.1 million to $54.2 million; national increased by $800,000 to $21.2 million; ‘Net ad revenue was up $700,000 to $2.7 million. Internet ad revenue was broken out of local for the first time.

Retransmission consent deals yielded an increase of $500,000 for a total of $1 million.

Year-over-year, net revenue for the stations dropped by $27.4 million to $307.3 million due to the absence of elections. National ad revenue was also down for the year, from $79.2 million to $77.4 million. Local was up by $6.7 million to $200.7 million; ‘Net revenues rose 25 percent, by $1.9 million to $9.5 million. Retrans

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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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