Spelling hits in 3rd quarter

Spelling Entertainment Group reported net earnings of $ 3.5 million (7 cents per share) for the third quarter ended Sept. 30. Net earnings for the first nine months of the year were $ 6.5 million (13 cents).

Earnings for the first nine months of 1991 aren’t comparable because they included a large gain from the sale of certain discontinued oil operations and only five months of entertainment operations which were acquired in May of that year.

The entity was formed from the merger of Spelling Entertainment Inc. into Carl Lindner’s Charter Co. last year and shareholders approved in October to retain the use of the Spelling name.

The company reported third quarter TV programming revenues, which includes “Beverly Hills 90210,”of $ 74.6 million, a 75% gain over the similar period a year ago. Operating income rose to $ 8.6 million, up 63% over 1991’s third quarter.

The company attributed the increases to rising network television production coupled with major new sales of programming acquired in recent years by Spelling’s television distribution arm.

Overall TV programming revenues for the first nine months of 1992 were $ 193. 4 million and operating income for the period was $ 23.7 million.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety