EmptyAcme losses mount
Acme Communications, owner of six TV stations that primarily are CW affiliates, said Wednesday that its loss from continuing operations in the first quarter was $1.6 million, up from a loss of $1.1 million last year. Revenue increased 13% to $8.2 million. Shares of Acme, which also produces TV's "The Daily Buzz," rose on the better-than-expected results.
Charter Communications, with its stock closing at or above $1 for 10 consecutive business days ending May 12, is now in compliance with Nasdaq Global Select Stock Market's minimum price listing standard, the cable operator controlled by Paul Allen said Wednesday. In April, the company was not in compliance with Nasdaq's requirements because its stock had closed below $1 for 30 consecutive business days.
Revenue up at Nielsen
The Nielsen Co., parent company of The Hollywood Reporter, reported first- quarter operating income of $115 million, up from $56 million a year ago. Revenue rose 13% to $1.2 billion. The privately held company reported $8.5 billion in debt at quarter's end and a cash balance of $354 million.