Net revenues jumped 22.3% in fiscal Q3 (April-June) for Allbritton Communications to $53.7 million. It wasn’t all due to political advertising, either.
Local-national advertising combined, but excluding political, increased 15.9% to just under $42 million in the quarter. Political revenues totaled $4.6 million, up from only $748K a year earlier.
Retransmission consent payments were also a revenue boost for the company, with subscriber fees up 9.9% to $4.8 million.
Operating income for the quarter jumped 61% to $22.2 million.
Allbritton owns six ABC affiliates, with its largest operation being WJLA-TV Washington DC and the associated NewsChannel8, a 24/7 cable outlet. It also owns Politico, a specialized newspaper and website focused on Capitol Hill and federal elections.
Allbritton is privately owned but has public bonds. It does not conduct quarterly analyst conference calls.