Graham Holdings Company has distributed its Q3 2025 financial results, and that includes a breakdown of just how its Graham Media Group broadcast television unit performed.
How did it do? On tough comps, revenue and operating income were both down.
For the three-month period ending September 30, GMG revenue decreased by 28% to $105.09 million, from $145.42 million.
Expenses were also down to combat the cyclical political advertising seen in Q4 2024, softening the poor comparisons on a year-over-year basis, moving to $78.31 million from $83.51 million.
Total it up, and operating income dipped by 57%, moving to $26.77 million from $61.91 million.
Adjusted operating cash flow declined to $32.21 million, from $67.56 million.
GMG’s holdings are comprised of broadcast TV stations in Houston, San Antonio, Jacksonville, Orlando, Roanoke-Lynchburg, and Detroit.
