Lack of political impacted Meredith


With only one million of political revenues, vs. nine million a year ago, fiscal Q1 (July-September) broadcasting revenues were down 7.3% at Meredith Corporation to 75 million bucks. Non-political ad revenues, however, rose 3.1%. "In addition to non-political advertising growth, we were pleased with our success in driving non-traditional sources of revenues, including our Cornerstone programs, the Internet and our video initiatives. This includes Meredith Video Solutions, which draws upon the production and distribution expertise of our Broadcasting group and the content and strong brands of our Publishing group to create compelling broadcast quality video," said CEO Stephen Lacy.

With publishing revenues up 8%, companywide revenues were up 5% to 404 million. Earnings per share gained 10% to 68 cents.