Since selling its TV stations and narrowing its radio group to four markets, Lincoln Financial Group has had little to say about its broadcast operations in its quarterly earnings reports. But we did find some financial figures for radio in the annual 10-K that the big insurance company just filed with the SEC.
For all of 2010 Lincoln Financial Media had net revenues of $75 million, which was up 10% from $68 million in 2009. But expenses were also up, rising 11% from $53 million in ’09 to $59 million last year.
By our calculation then, broadcast income increased only slightly, rising about 7% from $15 million in 2009 to $16 million in 2010.
Lincoln Financial Media has stations in Miami, San Diego, Denver and Atlanta.
Parent Lincoln Financial Group had 2010 revenues of $10.4 billion, so you can see why radio doesn’t get much attention in its Wall Street reporting.
