BATON SHOWS BIG JUMP IN PROFIT
By Adnews Staff
Toronto-based Baton Broadcasting Inc. has reported a 60% jump in operating profit for the second quarter ending Feb. 28. Operating profit was just over $13 million during the quarter, compared to $8,390,000 during the same period last year. Revenue and expenses are not directly compared to last year because Baton bought Electrohome's broadcasting assets last August, and completed an asset exchange with CHUM Ltd. last October. Same station revenues increased by 6%. However, increased competition in Ontario and Alberta has slowed revenue growth. Revenue improvement achieved in the second quarter is primarily attributed to the strong performance of CFTO-TV in Toronto.
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