Jones Media Primarily Attributes Earnings Loss to Weak DRTV Market
The company, which runs two cable television networks, Great American Country and Product Information Network, said PIN's results for the quarter were severely impacted by a weakened infomercial marketplace. The company said it reduced advertising rates for PIN because of the soft DRTV market.
The first quarter ended March 31.
The company's cable television programming segment reported first-quarter revenue of $8 million, a decrease of 8 percent from the same quarter last year.
Jones Media Networks, Englewood, CO, also runs a network radio business, which syndicates radio programming and services reaching roughly 152 million national listeners weekly, according to the company.