| Meredith owns and operates
13 television stations with a total reach of over nine percent
of U.S. households. Seven of our stations are in the top 35 markets,
and many of our stations are located in high-growth areas such
as tourist destinations and state capitals. The Broadcasting Group
currently includes six CBS affiliates, four FOX affiliates, one
NBC affiliate, one WB affiliate and one UPN affiliate.
Fiscal 2004 Highlights
For
the fiscal year, operating profit increased 20 percent to $71
million from $59 million in fiscal 2003. EBITDA (earnings before
interest, taxes, depreciation and amortization) rose 16 percent
to $93.4 million. EBITDA margin improved to 32 percent from
30 percent. The group replaced $20.9 million of net political
advertising revenues in fiscal 2003 and yet grew total revenues
6 percent to $288.6 million in fiscal 2004.
updated 9/2004
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