Tribune Revenue Hit by Low Political Ad Spending
Tribune's Q3 results show a fall in political advertising revenue due to less-than-expected ad spending, emailed Wells Fargo analyst Marci Ryvicker to investors Wednesday. Gray Television and others have faced similar issues (see 1611080035). “Our results would have been even…
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better but for the [Donald] Trump campaign's substantially lower than expected spend on television advertising and the fact that our station portfolio does not benefit from Olympic advertising because we have only two relatively small NBC affiliates,” said Tribune CEO Peter Liguori in a news release. Tribune did increase its political advertising market share, but also downgraded revenue predictions for 2016, he said. Also this week, Nexstar political revenue was better than expected (see 1611090040).