Angry shareholders at ACME

ACME Communications reported that Q4 revenues from continuing operations increased 8% to 8.4 million bucks. That was largely due to the inclusion of “The Daily Buzz” in the calculation. Net revenues for the six TV stations that the company owns that do not have a sale pending were down 4%.

The company’s conference call became heated at times as some investors questioned whether management was doing all it should to find buyers for the remaining stations. CEO Jamie Kellner insisted that the company is working diligently to get the stations sold, but he noted the difficult financing market and said that while broker CobbCorp is working with a number of potential buyers, there is nothing new to report on the sale front.
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