Cabler Century Communications posted improved operating results for its fiscal fourth quarter and year ended May 31. Total revenues for the quarter increased 8.6% to $ 89.3 million from a year earlier.
Operating income before depreciation and amortization expense totaled $ 52. 2 million, an 11.5% increase over a year earlier. Still, the loss for the quarter was $ 9.4 million (13 cents per share) compared with a loss of $ 6.4 million (7 cents). Revenues for the year were $ 345.1 million, up 10.5% from $ 312.3 million in the prior year.
Continental Cablevision says it will become a pipeline for the massive Internet computer network, aiming to steer the nation’s information highway further into the home. Subscribers will be able to tap into library catalogs, weather maps and airline reservation services. Initially, the data will be fed into personal computers, but eventually the cable company hopes to put it directly into television sets.
Marvel Entertainment shares set a 52-week high for the second consecutive day , and Wall Street analysts pointed to stock buys by Ronald Perelman and a higher broad market Tuesday, among other reasons. The stock ended the day at 41 7/8, up from Monday’s close of 41 1/4.
Tribune Co. said consolidated revenue for its newspaper publishing, broadcasting and entertainment businesses was up 6.4% for the first seven months of the year. Revenue for the broadcasting and entertainment segment rose 13.2% for June and 11% for the year-to-date period.