Young Broadcasting Inc. on Wednesday reported a 5% drop in second revenues to $74 million, while operating income decreased 20% to $19 million, coming in lower than the company had expected.
The New York-based firm, which owns 12 television stations, including six ABC affiliates, including KCAL-TV in Los Angeles, also said broadcast cash flow for the quarter, ended June 30, decreased 12% to $33 million.
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Unapix Entertainment on Wednesday said second quarter profits jumped 330% to $288,000 and revenues were $11 million, a gain of 20%, driven by continued growth across the board in its film, television and homevid production and distribution operations.
The New York-based company also said that income from operations increased over 90% to $1.2 million and cash flow increased over 23% to $4.3 million, for the period ended June 30.
Separately, Unapix said it has received a $40 million revolving line of credit from GE Capital, which, when closed, will more than double its borrowing power.