LBI Media in Q2: Radio Down, TV Up
Liberman Broadcasting Inc. (LBI Media) second quarter 2010 revenue rose 9.4% to $2.6 million, but radio revenue fell 1.7% to $16.4 million. The company registered a net loss of $1.3 million, down from a gain of $500,000 in 2009.
CEO and President Lenard Liberman said, "Our second quarter results represent our second consecutive quarter of year-over-year revenue growth, which was driven by improvement in our TV segment and by the performance of EstrellaTV, our national television network.
"Over the last three months, we have signed agreements with three new affiliates in Wichita, Kansas, Reno, Nevada and Tulsa, Oklahoma. We also recently completed the purchase of television station Ketd serving Denver, Colorado, the nation's 15th largest Hispanic television market. Upon completion of our purchase of selected television station assets in Chicago, the nation's 6th largest Hispanic television market, EstrellaTV will be distributed in 35 markets covering over 76% of U.S. Hispanic television households. We continue to be in active discussions with potential affiliation partners and are working to finalize a number of additional distribution platforms.” Liberman stated.
Trackback from your site.