Regent Revenue Up 3.6% in Quarter

In line with several other publicly held broadcast groups, Regent Communications, which owns 75 stations in small and medium markets, said its net broadcast revenues increased 3.6% in the second quarter to $22.2 million, compared to last year’s Q2. Year to date, broadcast revenue is up 5.7% to $40.1 million.
Chairman/CEO Terry Jacobs expressed pleasure with the company’s 5.4% same-station revenue growth and 13.4% growth in same-station operating income.
It also forsees station net broadcast revenue growth in the third quarter of 3% to 5%.
The company also announced the completion of a stock buyback program, and its board voted to gives the company the ability to purchase up to an additional $20 million of stock.
The company trades on Nasdaq.