Radio Down, TV Up For LBI Media In Q2
August 17, 2010 at 4:26 AM (PT)
LBI MEDIA second quarter 2010 revenue rose 9.4% to $2.6 million, but radio revenue fell 1.7% to $16.4 million. The company registered a net loss of $1.3 million, down from a gain of $500,000 in 2009.
CEO and President LENARD LIBERMAN said, "Our second quarter results represent our second consecutive quarter of year-over-year revenue growth, which was driven by improvement in our TV segment and by the performance of ESTRELLATV, our national television network.
"We remain pleased with the performance and steady distribution gains of ESTRELLATV. Over the last three months, we have signed agreements with three new affiliates in WICHITA, KANSAS, RENO, NEVADA and TULSA, OKLAHOMA. We also recently completed the purchase of television station KETD serving DENVER, COLORADO, the nation's 15th largest Hispanic television market. Upon completion of our purchase of selected television station assets in CHICAGO, the nation's 6th largest Hispanic television market, ESTRELLATV will be distributed in 35 markets covering over 76% of U.S. Hispanic television households. We continue to be in active discussions with potential affiliation partners and are working to finalize a number of additional distribution platforms.
"ESTRELLATV continues to deliver solid performance in the NIELSEN ratings. We ranked fourth among the many nationally rated Spanish language television networks in primetime for May sweeps in the adult demographics. We expect our ratings performance to improve as we continue to invest in our internally-produced programming, add new affiliates and further expand our distribution platform."
"Moving forward, we are focused on strengthening our programming lineup through the development and introduction of compelling content, securing further distribution gains for ESTRELLATV, and positioning our radio and television broadcasting assets for growth as the advertising market recovers."