Barrington Reports Third Quarter Operating Results

Business Wire, Nov 9, 2007

HOFFMAN ESTATES, Ill. -- Barrington Broadcasting Group LLC ("Barrington") announced today its financial results for the three months ended September 30, 2007 and for the nine months ended September 30, 2007.

Barrington's consolidated financial results for the three months and nine months ended September 30, 2007 are presented below. The financial results for the comparative prior year periods are presented on a pro forma basis as if all acquisitions completed in 2006 were completed on January 1, 2006. Highlights are as follows:

* Gross revenues for the quarter ended September 30, 2007 decreased 4.2 % to $31.7 million from $33.1 million for the quarter ended September 30, 2006. The decrease was primarily due to decreases in political revenues as well as national revenues. Political revenues decreased $3.1 million to $0.2 million and national revenues decreased 3.2%, or $0.3 million, to $9.2 million for the quarter ended September 30, 2007. Local revenues increased $1.9 million, or 10.7%, to $19.7 million.

* Net revenues (gross revenues less agency commissions and other direct costs) for the quarter ended September 30, 2007 decreased 3.8% to $27.1 million from $28.2 million for the quarter ended September 30, 2006.

* Operating expenses for the quarter ended September 30, 2007, not including depreciation and amortization, increased 0.3%, to $20.6 million from $20.5 million for the quarter ended September 30, 2006.

* Broadcast Cash Flow (as defined herein) for the quarter ended September 30, 2007 decreased 7.7% to $7.8 million from $8.5 million for the quarter ended September 30, 2006.

* Gross revenues for the nine months ended September 30, 2007 decreased 3.0% to $96.2 million from $99.2 million for the nine months ended September 30, 2006. The decrease was primarily due to decreases in political revenues as well as national revenues. Political revenues decreased $5.1 million to $0.6 million and national revenues decreased 5.9%, or $1.8 million, to $28.5 million for the nine months ended September 30, 2007. Local revenues increased $4.0 million, or 7.2%, to $60.0 million.

* Net revenues (gross revenues less agency commissions and other direct costs) for the nine months ended September 30, 2007 decreased 2.9% to $82.2 million from $84.7 million for the nine months ended September 30, 2006.

* Operating expenses for the nine months ended September 30, 2007, not including depreciation and amortization, decreased 0.7%, to $61.1 million from $61.6 million for the nine months ended September 30, 2006.

* Broadcast Cash Flow for the nine months ended September 30, 2007 decreased 4.4% to $25.1 million from $26.3 million for the nine months ended September 30, 2006.

For more information regarding this financial information, including certain adjustments and assumptions, and a definition of Broadcast Cash Flow, see the attachments to this press release.

Barrington's actual consolidated financial results for the quarter and nine months ended September 30, 2007 compared to Barrington's actual consolidated financial results for the three months and nine months ended September 30, 2006, which 2006 results do not include substantially all stations acquired in 2006, are presented below. Highlights include:

* Net revenues for the quarter ended September 30, 2007 increased to $27.1 million from $20.6 million for the quarter ended September 30, 2006. Operating expenses, not including depreciation and amortization, increased to $20.6 million from $14.7 million for the third quarter of 2006. The increases were primarily due to the stations acquired from Raycom Media, Inc. which were only included in third quarter 2006 results from the August 11, 2006 acquisition date.

* Net revenues for the nine months ended September 30, 2007 increased to $82.2 million from $39.8 million for the nine months ended September 30, 2006. Operating expenses, not including depreciation and amortization, increased to $61.1 million from $29.2 million for the nine months ended September 30, 2006. The increases were primarily due to the stations acquired from Raycom Media, Inc. in August 2006. The results of those stations were only included in the results for the nine months ended September 30, 2006 from the August 11, 2006 acquisition date.

K. James Yager, Chief Executive Officer, commented that "while we are encouraged by our growth in local revenues in the third quarter, national spot revenues continue to be unreliable in certain of our markets."

Conference Call

As previously announced, Barrington will host a conference call to discuss its second quarter results at 11:00 AM (EST) on Monday, November 12, 2007. The dial-in information for the earnings call is as follows: 1-800-366-3964. A telephonic replay of the earnings call will be available beginning on November 12, 2007 at 1:00 PM (EST) and remain available for 30 days. To access the replay, please dial: 800-405-2236 (for domestic callers), or 303-590-3000 (for international callers), and enter access code 11101548#.

During the conference call, representatives of Barrington may discuss and answer one or more questions concerning Barrington's business and financial matters. The responses to these questions, as well as other matters discussed during the call, may contain information that has not been previously disclosed.