Political off-year felt at Allbritton


All broadcasters fell the impact of the election cycle, but perhaps no one else feels it as much as Allbritton Communications, whose biggest (by far) TV station and 24/7 local cable news operation call Washington, DC home base. So, revenues were down in the most recent quarter.

For Allbritton the April-June quarter is its fiscal Q3. Net revenues were down 8.2% to $49.3 million and operating income fell 27.7% to $16.1 million. In its quarterly SEC filing the company attributed the revenue decline to the lack of political advertising, which fell to $28K from $4.6 million. However, local and national spot (combined) were also off, dropping to $40.6 million from nearly $42 million. Allbritton noted a 5% drop in automotive, which was attributed to the problems in Japan.

Subscriber fees, however, were up, rising to nearly $6 million from $4.8 million.

Allbritton doesn’t conduct quarterly conference calls with analysts and it doesn’t have any public stock – just bonds.