Sinclair Broadcast Group said Wednesday that its second-quarter profit increased more than sixfold, but the results fell short of Wall Street expectations and shares fell to a 52-week low. Sinclair said net income was $13.3 million, compared with $2.2 million a year ago.
gains at crown media
Crown Media posted a narrower second-quarter loss Wednesday, helped by an increase in advertising revenue and subscriber-fee revenue. The company reported a net loss of $5.9 million, compared with a net loss of $43.7 million a year ago.
INCOME UP AT SALEM
Salem Communications on Wednesday reported a Q2 net income of $3.5 million, up from $2.9 million a year ago, on revenue that decreased 2.2% to $57.5 million. Salem said that broadcast revenue shrunk 5% but nonbroadcast revenue surged 22%.
National CineMedia said Wednesday that second-quarter net income fell to $4.3 million, compared with $6.3 million a year ago, on revenue that grew 3.6% to $86.7 million. In-theater advertising revenue fell 2.5% to $74.8 million.