"Net revenue -- $1.29 billion, down 13.4%, reflecting reduced political advertising and partially offset by growth in non-political advertising. Advertising revenue -- $549 million, down 27.6%, including a $233 million drop in political advertising to $21 million."
"Non-political advertising -- Up 4.5%, ahead of company expectations for low single-digit decline, with broad-based improvement across local, national, network, and digital segments. The CW viewership -- Up 19%, ranking as the tenth most-watched ad-supported network and the second fastest-growing."
"NewsNation performance -- Achieved highest total day, primetime, and daytime viewership ever; recognized as fastest-growing cable news network in the adult 25%-54% category. Adjusted EBITDA -- $433 million with a margin of 33.6%, falling $195 million from the previous year."
The company reported net revenue of $1.29 billion, down 13.4% year-over-year, primarily driven by a $233 million decline in political advertising to $21 million. Distribution revenue reached $720 million, up 0.8%, supported by higher rates and vMVPD subscriber growth despite MVPD subscriber losses. Non-political advertising revenue grew 4.5%, exceeding expectations with broad-based improvements across segments. The CW achieved 19% viewership growth and ranked as the second fastest-growing network, while NewsNation recorded its highest viewership ever. Adjusted EBITDA was $433 million with a 33.6% margin. Adjusted free cash flow declined to $214 million from $411 million. The company returned $351 million to shareholders through dividends and share repurchases, reducing shares outstanding by 1%.
#political-advertising-decline #non-political-advertising-growth #distribution-revenue #the-cw-network-performance #newsnation-growth
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