Ad slump for Journal Communications

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Q2 revenues were down 4.3% at Journal Communications, blamed on weakness in classifieds for the newspaper business and soft auto advertising for broadcasting. TV was down 6.4% to 34 million against tough political comps. Radio revenues were down 0.5% to 22 million, but that is without accounting for the sale of two stations. On a same station basis, radio was up 1.6%. Publishing revenues were down 0.5% to 67.6 million. TV operating earnings were down 35.4%, radio 22.7% (19.8% same station) and publishing was up 40.3%, although that included a boost from the sale of a printing facility.


Looking ahead, Journal Broadcast Group CEO Doug Kiel said Q3 pacings are similar to Q2 for both radio and TV, although he noted that political advertising "is the wild card."


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