Media Industry
Industry: Email Alert RSS FeedCollateral TV damage less than expected: Tribune posts 1Q increases, while Gannett, Scripps, NYT report losses. (Top of the Week).
Broadcasting & Cable, April, 2003 by Higgins, John M.
TV stations are exhibiting some battle scars from the Iraq war's disruption of advertising, but the damage is not as severe as some had feared.
Among TV-station groups posting financials for their first quarters, Tribune Co. and Emmis Broadcasting's results were strong, even startlingly so, Gannett and New York Times posted sharp declines in operating cash flow, and E.W. Scripps showed a smaller dip.
"Things were not as bad as people expected they would be in the first quarter, and we're still looking for some conviction on the second quarter," said Bear Stearns TV and radio analyst Victor Miller. "We'll start seeing that this week.
"Groups with heavier Fox, UPN and WB affiliations," he added, "are showing much less disturbance from...
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