Young Broadcasting, owner of WBAY-TV (channel 2) in Green Bay, reported a 41 percent increase in operating income to $1.8 million. The profit increase is despite a 1.8 percent decrease in net revenues. According to RBR.com, the company credits the increased profits to a cost reduction program that is estimated to reduce costs by $15 million per year.
Stock analysts are reducing the revenue estimates for Cumulus Broadcasting for the rest of 2008, according to RBR.com. Cumulus has proposed a $1.3 billion buyout of its public stock, but a shareholder vote hasn’t been scheduled. Cumulus owns WNAM (1280 AM), WOSH (1490 AM), WPKR (99.5 FM), WVBO (103.9 FM) and WWWX (96.9 FM) in the Appleton–Oshkosh market, and WDUZ (1400 AM, 107.5 FM), WOGB (103.1 FM), WPCK (104.9 FM), WQLH (98.5 FM) and WZNN (106.7 FM) in the Green Bay market.
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