As per the pr, company wide Digitital Revenue (inclusive of the 'Digital Segement + Digital related to their newspaper biz etc) was $311.7 million. Broadcast Revenue was $205.4 million. So Revenues not including their Old School Print biz equalled $517.1 million, or 39.6% of total revenue...up from 37.7% last quarter.
I believe for the first time, Net Income and Operating Cash flow from their Digital and Broadcast biz was greater than publishing. And just under 14% of publishing revenue is digital, so Old School print biz probably accounted for less that 45% of net income and cash flow.
Those seem like solidly good trends to me. Of course Old School Publishing segment continues its big time decline.
Operating cash flow from print media was still 59% of total (lots of depreciation from old media, very little from digital). Operating income from digital and BrdCstng was over half. Clearly. a step in the right direction, and, clearly a company that can maintain a solid dividend in a zero rate environment, and still offer some revenue and earnings growth into the future.
I can't help but think many of those old downtown property print sites may be devloped or monetized . As real estate recovers and the business changes surely they will capture value there . In the meantime 5.6% in annual dividends reflecting a 36% payout leaves room for development or further increases as shares are repurchased ..