BATON REPORTS INCREASE IN INCOME AND REVENUE
By Adnews Staff
Toronto-based Baton Broadcasting Inc. has reported a 25% increase in income during the three month period ending Nov. 30. The broadcaster's income rose from $37,756,000 to $47,250,000 before interest, depreciation, amortization and income taxes. Net income jumped from $14,104,000 to $16,316,000. Total revenue for the three months was up from $118,806,000 to $154,939,000. Revenue is not directly comparable to the prior year due to the consolidation of CTV's results commencing Nov. 1, 1997. Same station revenue was about the same as last year. The fall advertising market started strong, but then fell off because of economic uncertainty in the global market.
Separately, Baton plans to change its name to CTV Inc. The change is still subject to shareholder approval. Baton bought the CTV Television Network earlier this year.