Listening to a Saga Communications quarterly conference call can be more like a college lecture on the philosophy of broadcasting than a Wall Street discussion of finance. Such was the case Thursday (11/3) as CEO Ed Christian reported that Q3 was flat, excluding political, but wondered why other broadcasters found that satisfying.
Later Professor Christian said he disagreed with those who think radio and TV are endangered. “Challenged, yes. Endangered, no.”
Oh, yes, Saga did report financial results for the quarter.
Radio revenues were down 0.8% to $27.9 million and broadcast cash flow (BCF), as calculated by RBR-TVBR, was down 1.2% to $7.9 million.
TV revenues fell 2.4% to $4.6 million and BCF was down 11.5% to $1.1 million.
Net operating revenues for the entire company were down 1% at $32.5 million. Including corporate overhead, operating income fell 6.2% to just under $7 million.