Tuesday, July 22, 2008

Journal Communications' revenue down 6.4%

Total revenues for the publishing and broadcast segments of Journal Communications (JRN) were down 6.4% in the sixth period ending June 29, the company announced Tuesday.

Revenues totaled $42.75 million in the period, compared with $45.69 million for the sixth period ending July 1, 2007.

For the same period, advertising revenues were $36.07 million, down 8.4% compared with $39.39 million for the sixth period in 2007.

Both periods contained 35 days.

On the publishing side, revenues at the Milwaukee Journal Sentinel and the community newspapers and shoppers totaled $23.22 million, down 8.6% compared with $25.41 million. Advertising revenue was $16.53 million, down 13.5% compared with $19.11 million in the comparable period.

Circulation revenue was $5.02 million, up 0.2%. Other revenue was $1.66 million, up 28.3%.

At the Journal Sentinel, total advertising revenue was $13.17 million, down 15.6% compared with $15.60 million. Of particular concern was a drop in classified advertising revenue and national advertising revenue. Classified advertising revenue was down 22.1%, national advertising revenue was down 37.3% and direct marketing revenue was down 29%. Retail advertising revenue was down 8.2%.

Circulation revenue at the Journal Sentinel was $4.92 million. Other revenue of $1.36 million was up 54.4%, primarily because of the addition of new commercial printing customers.

Total interactive advertising revenue at the Journal Sentinel was up 3% to $1.29 million.

Journal Communications' community newspapers and shoppers reported total advertising revenue of $3.37 million, down 4%. The company said the decline was a reflection of declines in retail advertising revenue and classified advertising revenue. Circulation revenue at the community newspapers and shippers totaled $0.10 million, an increase of 11%.

On the broadcast side, total revenue at the company's radio and television stations was $19.54 million, a 3.7% decrease, compared with $20.28 million in the comparable period.

At the television group, revenue decreased 2.5% to $11.60 million, compared with $11.90 million in the comparable period. The company said the decrease was due to softness in the Tucson, Fort Myers and Milwaukee markets.

On the radio side, revenue was $7.94 million, down 5.3%, compared with $8.38 million. The company said the decrease reflected softness in the company's radio markets with the exception of Milwaukee and Omaha.

In addition to the Journal Sentinel, Journal Communications publishes 52 community newspapers and shoppers in Wisconsin and Florida. The company owns and operates 35 radio stations and 11 television stations in 12 states as well as an additional television station under a local marketing agreement. The company also has more than 121 online enterprises that are associated with the company's daily and community papers and television and radio stations.
By Don Walker
Milwaukee Journal Sentinel


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