Bengals, County Reach Stadium Upgrades Deal Dierdorf Joins Michigan Booth For Football MWC Schools Increase Nat'l TV Exposure Colts To Remain With Irsays Long Term Final Ratings: NHL Playoffs, "Arnie" Media Notes Judge Denies NFL Concussion Settlement Lakers RSN Ratings Reach New Low ESPN To Air Klitschko Title Bout Fox' Jay Glazer Details Recent Illness
Upcoming Conferences and Events
TBS REPORTS 3RD Q LOSSES BUT HIGH OPERATING PROFITS
Published November 4, 1994
Turner Broadcasting System Inc. "sharply lowered" its losses during the 3rd quarter. While TBS continued to show a net loss, the company's operating profit rose to $88M, up 46% from the same period a year ago. The company attributed its "overall improved finances to three factors": 1) The costs of The Goodwill Games were behind them; 2) TBS took a $306M charge for accounting reasons last year; 3) Higher ad rates and subscriber fees. Most of TBS' segments improved during the quarter. TBS's news operating profits were 20%; the Cartoon Network "registered the best performance in terms of growth in ad revenue and subscribers." Overall, TBS' entertainment group saw its operating profit jump 78%. Most of the improvement was attributed to a "decline in the company's cost" of airing NFL games on TNT. One weak spot was the Braves. TBS "suffered" a $15M operating loss because of the baseball strike (Charles Haddad, ATLANTA CONSTITUTION, 11/4). Last night on "NBR," the quarterly report was characterized differently: TBS "took a hit," reporting a $5M loss which the company attributed to the baseball strike. TBS stock gained 5/8 (PBS, 11/3).