The bigger factor driving new interest in broadcasters — such as Tribune Co.'s TRBAA +5.45% $2.73 billion deal, announced today, to buy Local TV Holdings LLC’s 19 TV stations — are the fees paid by cable and satellite operators for the right to air local TV station signals.
Tribune’s publishing operations, including web sites related to its newspapers, still account for nearly two thirds of total revenues, according to recent financial disclosures from the company. But the bottom line contribution is a different story.Operating profit from publishing was just $88.8 million in 2012, compared with $366.47 million for broadcasting. In other words, publishing’s operating profit margin was 4.4% while broadcasting’s was 32%.
Read more at the Wall Street Journal
