Ad sales soared in Q4 for Fisher Communications. Radio revenues jumped 17% and TV blew the doors off with a 61% gain.
The TV performance obviously included a big political component, with political ads totaling $15.2 million, up from $1.2 million a year earlier. But core business almost made it to double digits. Local and national spot sales, excluding political, rose 9% to $25 million. Retransmission consent payments increased $569K to $3 million and Internet revenues for the TV stations more than doubled to $1.1 million.
All of that added up to boost total TV revenues by 61% to $46.8 million. TV cash flow shot up 297% to $20.4 million in Q4.
Radio net revenues were up 17% in Q4 to $7.1 million. Radio cash flow grew 32% to $1.4 million.
Total revenues, including Fisher Plaza, increased 49% in Q4 to $57.6 million. EBITDA improved 370% to $19.4 million.
“We are very pleased with our fourth quarter results, which reflect Fisher’s highest quarterly revenue during the past ten years. Our five year track record of ratings and core advertising market share growth confirms that our strategic plan to drive EBITDA growth is working,” said CEO Colleen Brown in Fisher’s quarterly financial announcement.
The company announcement made no direct mention of the ongoing fight for control of the Fisher board of directors. Brown also refused to take any questions on the proxy fight during her conference call with Wall Street analysts, nor on the rejected buyout bid from Huntingdon REIT. She did, however, say that Fisher had explored selling Fisher Plaza before the real estate market crashed and that the board of directors would assess when to monetize that real estate holding.
