April 25, 2012 | last updated June 1, 2012 2:07 pm

Charge eats into WFSB parent's fiscal 3Q net

Multimedia operator Meredith Corp., parent of WFSB Channel 3 in Rocky Hill, said more advertising propelled upward its fiscal third-quarter sales and profit, part of which was eaten up by special charges from recent acquisitions.

For three months ended March 31, the Des Moines, Iowa, magazine-and-digital publisher and broadcaster netted $21.2 million, or 47 cents a fully diluted share, down from $30.8 million, or 67 cents a share, netted a year ago.

The latest quarter reflected a special charge of 19 cents a share tied to acquisitions of Allrecipes.com, EveryDay with Rachael Ray and FamilyFun, the company said.

First-quarter revenues were $345.5 million vs. $338.9 million last year.

Meredith said while three other TV stations had stronger growth in the quarter, Channel 3 emerged No. 1 in its February daytime ratings sweeps, setting it up for a greater share of this year's local political TV ad dollars.


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