Campaign Ads Boost TV Stations' Profits

Strong political advertising helped drive Hearst-Argyle Television's profit for the third quarter up 20 percent. The station group reported Thursday that its net income for the quarter that ended Sept. 30 increased to $11.6 million, or 12 cents per share, from third quarter 2007's $9.7 million, or 10 cents per share. Despite an 8% decrease during the third quarter in revenue from core advertising categories, LIN TV reported year-to-year increases of 5% in net revenue and 39% in operating income. Driven by $11.4 million in political advertising and by an 88% increase in digital revenues, net revenues rose to $98.8 million, or 20 cents per share, up from $93.7 million, or 3 cents per share, in third quarter 2007, LIN reported Thursday.