Second quarter overachieves expectations. Second quarter revenues were roughly in line with expectations ($336.7 million versus our $339.7 million), but cash flow (adj. EBITDA) over achieved expectations ($47.6 million versus our $38.2 million estimate). Stronger results in the National Media segment accounted for the variance in our estimates.
Third quarter guidance a little better. The company’s Local Media business appears
to be doing slightly better than we thought. This is offset by higher than
expected…
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