AP Reports Revenue, Profit Increase For 2014
April 27, 2015 at 3:49 AM (PT)
The ASSOCIATED PRESS 2014 revenue rose 1% year-to-year to $604 million and net income jumped from $3.3 million to $140.9 million, credited mostly to the $128.3 million sale of 50% of STATS LLC. Revenue was benefitted by special events and photo and video licensing.
The company projects revenues to decline 2% in 2015 due to lack of special events, the newspaper industry's troubles, and exchange rates. See the results in the AP's annual report by clicking here.
AP also announced last week that GATEHOUSE MEDIA's KIRK DAVIS and THE MCCLATCHY CO.'s PATRICK TALAMANTES have joined the AP board, according to AP's report on the yearly results.