Gannett Co. said Monday that it posted a 38.7 percent year-over-year increase in retransmission-consent revenue during the fourth quarter.
The broadcaster, which signed a retransmission-consent deal with Dish Network (Nasdaq: DISH) in October and a pact with DirecTV (Nasdaq: DTV) in December, said it generated $29.6 million in retransmission-consent revenue during the fourth quarter. Fees it collects from pay TV providers for including its stations that air programming from ABC, CBS and NBC in basic cable programming packages jumped nearly $8 million compared to the fourth quarter of 2011. Gannett owns stations in 19 cities, including Denver, Minneapolis, Cleveland, Phoenix, Sacramento, Calif., Tampa, Fla., and Buffalo, N.Y.
Before Dish signed its Gannett deal in October, the company complained that Gannett was demanding a 300 percent increase in retransmission-consent fees. The station group owner also asked Dish to disable the AutoHop ad-skipping feature from its Hopper DVR.
Gannett, which also owns USA Today and other newspapers, said revenue from its broadcasting segment increased 43.9 percent to $287.5 million in the fourth quarter. The company reported earnings per diluted share of 89 cents, compared to 72 cents in the fourth quarter of 2011.
- see the release
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