Looks like things are improving at most media companies. LBI now reports their first quarter revenues went up 9% to $23.6 million. The gain, according to rbr.com, was all on the TV side, with radio revenues staying flat. TV gains are attributed to increasing revenue from the company’s Estrella TV network and growth of its O&O stations in California and Texas.
Estrella TV’s network startup costs increased the company’s operating expenses by only half a million dollars, for a total of $19 million for the quarter.
LBI continues its expansion of Estrella TV. Most recently, it reached agreements with 2 more affiliates – one in Greensboro, N.C. and another in Omaha, Nebraska.