Gray 2Q revenue falls 11% compared to '12
Gray Television, Inc., owner of Bowling Green ABC/FOX/CW affiliate WBKO, today announced its results from operations for the second quarter and first half of 2013.
For the quarter, total revenue declined 11% to $84.3 million, compared to $94.7 million for the same period in 2012. Local and national advertising revenue and retransmission consent revenue increased while political advertising revenue, consulting revenue and other revenue decreased. Local and national advertising revenue increased due to increased spending by our advertisers in a gradually improving economic environment.
Retransmission consent revenue increased primarily due to increased subscriber counts and rates. Political advertising revenue decreased due to decreased advertising from political candidates and special interest groups in the "off year" of the two-year election cycle.
Other revenue decreased due primarily to an anticipated reduction of certain copyright royalty payments in the second quarter of 2013.