Television news: Graham, Sinclair, Luken, taxes
In today’s collection of items, television stations formerly associated with a major newspaper report results, a network company partners with a shark, a TV group divides and prospers and a congressman discovers a hidden tax.
* Graham Holdings, home of the former Washington Post television group, enjoyed a very robust Q3 with a 19% gain in revenue to $87.4M and a 37% gain in operating income to $45M. Political revenue, up $9.5M, and retransmission revenue, up $4.7M, fueled the surge.
* Luken has a deal with Mako Communications adding affiliates for two of its networks, Retro TV and Rev’n, in 23 markets, including seven of the top 10. Rev’n, aimed at all kinds of motoring enthusiasts, debuts 12/1/14.
* Sinclair has declared a quarterly dividend, payable 12/15/14 to shareholders of record as of 12/1/14. Qualifiers will earn $0.165 per share.
* Did you know there a $5 fee attached by law to every digital TV set that goes to paying patents? Rep. Mike Pompeo (R-KS) believes it’s a hidden tax on Americans that adds up to $200M tax on Americans, and he’d like the FCC to do something about it. If it’s the law, we’d guess Pompeo is better situated to do something about it than anybody at the FCC.