|Journal Communications Reports October Revenue for Its Publishing and Broadcast Groups|
Note that unless otherwise indicated, all comparisons are to the tenth period ended October 28, 2007.
At the Publishing segment, revenues at the daily newspaper and the community newspapers and shoppers totaled $18.77 million, down 10.6% compared to $20.99 million. Advertising revenue was $13.23 million, down 15.4% compared to $15.64 million. Circulation revenue of $4.11 million was essentially flat. Other revenue of $1.43 million was up 13.1%.
At the daily newspaper, total advertising revenue was $10.42 million, down 17.4% compared to $12.63 million. Specifically, retail advertising revenue was down 7.1%, classified advertising revenue was down 32.9%, national advertising revenue of $0.66 million decreased 4.6% and direct marketing revenue of $0.16 million was down 54.9%. Within classified advertising, the help wanted, real estate/rentals, auto verticals and the other classified verticals were down 44.7%, 37.8%, 20.3% and 8.4%, respectively. Circulation revenue at the daily newspaper was $3.99 million. Other revenue at the daily newspaper of $1.19 million was up 18.2% compared to $1.01 million primarily due to new commercial printing customers in 2008. Total interactive advertising revenue at the daily newspaper, which is reflected in the various revenue categories, increased 2.0% to $1.29 million compared to $1.26 million.
At the Company's community newspapers and shoppers operations, total advertising revenue was $2.81 million, down 6.8% compared to $3.02 million, including $0.38 million from new acquisitions in Northern Wisconsin and Florida. Specifically retail advertising revenue was down 10.0% primarily due to the challenging economy. Classified revenue was up 7.1% due to revenue from the new acquisitions. Other advertising revenue was $36,000. Circulation revenue at the community newspapers and shoppers of $0.12 increased 45.6%. Other revenue at the community newspapers and shoppers of $0.24 million decreased 6.9%.
At the Broadcasting segment, total revenue at the Company's radio and television stations of $19.25 million increased 6.3% compared to $18.11 million. At the television group, revenue increased 11.0% to $12.81 million compared to $11.55 million, primarily due to a $4.6 million increase in political and issue advertising, partially offset by softness in the Ft. Myers, Boise and Palm Springs markets. At the radio group, revenue of $6.43 million was down 2.0% compared to $6.56 million, reflecting declines in all of our radio markets except Milwaukee, Springfield and Wichita, partially offset by a $0.24 million increase in political and issue advertising.
This press release contains certain forward-looking statements related to our businesses that are based on our current expectations. Forward-looking statements are subject to certain risks, trends and uncertainties, including changes in advertising demand and other economic conditions that could cause actual results to differ materially from the expectations expressed in forward-looking statements. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. Our written policy on forward-looking statements can be found on page 1 of our most recent Annual Report on Form 10-K and on page 23 of our most recent Quarterly Report on Form 10-Q, each as filed with the Securities and Exchange Commission.
About Journal Communications
Journal Communications, Inc., headquartered in Milwaukee, Wisconsin, was founded in 1882. We are a diversified media company with operations in publishing, radio and television broadcasting, interactive media and printing services. We publish the Milwaukee Journal Sentinel, which serves as the only major daily newspaper for the Milwaukee metropolitan area, and 55 community newspapers and shoppers in Wisconsin and Florida. We own and operate 35 radio stations and 12 television stations in 12 states and operate an additional television station under a local marketing agreement. Our interactive media assets include about 120 online enterprises that are associated with our daily and community newspapers and television and radio stations. We also provide a wide range of commercial printing services -- including printing of publications, professional journals and documentation material -- and operate a direct marketing services business.
SOURCE: Journal Communications, Inc.
for Journal Communications, Inc.