Hispanic broadcast group LBI Media Inc. was not immune to the myriad trouble facing all broadcasters in Q4 2009 and the year as a whole, but its national television network EstrellaTV grew enough to minimize the financial damage to the company. It operates both television and radio stations in key Hispanic markets.
Net revenues were down a scant $200K in Q4 compared to the same quarter in 2008, from $26.1M to 25.9M, a loss of about 1%. For the year, the decrease was $13.4M, from $116.3M to $102.9M, a lost of 11.5%.
However, the network is growing, and is now ranked 4th among Hispanic offerings, according to company President/CEO Lenard Liberman.
“While the current economic environment still presents challenges for the broadcasting industry, we are encouraged by the sequential improvement we have seen in our total revenues since the second quarter,” commented Liberman. “Our television segment returned to revenue growth during the fourth quarter as our stations in Los Angeles, Houston and Dallas recorded improved results.”
Liberman continued, “EstrellaTV, our national television network, continues to post very positive results. Our roster of affiliates continues to grow as we reached agreements with stations in California and Texas, including Bakersfield, Palm Springs, Odessa-Midland and Santa Barbara, the 29th, 38th, 40th and 44th largest Hispanic markets in the U.S., respectively. Together with our owned and operated stations, our affiliated stations, and upon completion of the purchase of the Denver and Chicago television station assets, we will have distribution in 30 markets covering 75% of U.S. Hispanic television households. We have a number of additional affiliation agreements pending and continue to pursue other distribution opportunities in Hispanic markets throughout the U.S.”