New York Times Q1 Same-Station Broadcasting Revs Fall
April 14, 2006 at 7:04 AM (PT)
First quarter revenues at the THE NEW YORK TIMES CORP.'s Broadcast Media Group rose 2% to $32 million, credited to the addition of UPN affiliate KAUT-TV/OKLAHOMA CITY, but excluding KAUT revenues declined 1.9%, blamed on soft auto advertising and decreased network compensation for the company's TV stations partially offset by OLYMPICS advertising. The division's operating profit fell from $4.1 to $3.2 million. The division includes the TIMES' only radio properties, Classical WQXR/NEW YORK and WQEW-A/NEW YORK (LMAd to RADIO DISNEY).
The company's overall revenues rose 3.3% to $831.8 million (up 1.1% excluding revenues for ABOUT.COM, which the company added in MARCH 2005). Net income fell from $111 million to $35 million (76 to 24 cents/share), with 2005's numbers including one-time gains from the sale of the TIMES' longtime headquarters and property in FLORIDA.