Hearst-Argyle Q1 Revs, Earnings Fall Without Olympics, Super Bowl
April 27, 2007 at 5:42 AM (PT)
HEARST-ARGYLE TELEVISION first-quarter overall revenues fell 2.6% year-to-year to $169.4 million. The drop was blamed on the inflating effect of the WINTER OLYMPICS (on the company's 10 NBC affiliates) and the SUPER BOWL (on its 12 ABC affiliates) on the 2006 numbers, especially in the automotive category. Earnings per share fell from 14 to 5 cents/diluted share.
HEARST-ARGYLE manages two radio stations, Talk WBAL-A and Rock WIYY (98 ROCK)/BALTIMORE, the financial results of which are not broken out in the company's financial releases.