Meredith Posts Declines For Fiscal Q1

Q1 Down

MEREDITH BROADCASTING fiscal first-quarter broadcasting revenues fell from $75 million to $70 million, blamed on industry-wide weakness in TV advertising. Overall revenue fell from $404 million to $370 million. The company posted an operating profit of $11 million, off from $14 million, and earnings per share of 41 cents, off from 68 cents.

The company does not break out numbers for its sole radio property, News WNEM-A/SAGINAW.

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