Barrington Broadcasting Group reports that Q2 gross revenues were down 1.8% to 34.2 million, with local up 5.7% while national was down 6.3% and, of course, political dropped to 200K from 1.2 million. The good news, though, is that cost reductions kept broadcast cash flow flat for the quarter at 10.4 million.
CEO Jim Yager was bullish on Barrington’s news expansion at some of the stations it bought from Raycom in preparation for next year’s political windfall. He expressed general satisfaction with local sales growth this year, but noted that national remains difficult in certain markets. After buying those 12 stations from Raycom, Yager told analysts he’s not in the market for acquisitions, unless duopoly opportunities should arise in some of his existing markets.
Barrington is privately owned but has public bonds.