BATON SHOWS INCREASED REVENUE
By Adnews Staff
Baton Broadcasting Corp. has reported an increase in net airtime revenue for the three-month period ending May 31. Net airtime revenue was $132,508,000, an increase of $62,884,000. over the same period last year. The increase was primarily a result of the acquisition of the CTV Television Network during the first quarter of the year. Increased competition in Alberta and Ontario resulted in a flattening of same station airtime growth. Revenue and expenses are not directly comparable to the prior year due to the acquisition of the broadcasting assets of Electrohome Ltd. last year, the asset exchange transaction with CHUM Ltd. and the consolidation of CTV's results commencing November 1997. Baton says it is a little disappointed with the subscriber revenue for its three specialty channels, but is happy with the stations' airtime revenue. The broadcasting company believes that as cable companies continue trapping the new channels, subscriber level for rise.