Meredith sees 'significant improvement' in Q3 National, Local media revenue
Looking into the third quarter of fiscal 2019, Meredith sees significant improvement in National and Local media group revenue performance: National Media Group total comparable advertising revenue is pacing down in the mid-single digits, a significant improvement when compared to recent quarters and in line with Meredith's historical and expected performance. This is true of brands in both the legacy Meredith and Time Inc. portfolios. Local Media Group non-political advertising revenue is pacing up in the mid-single digits, driven by the Professional Services, Media and Furnishings categories. Revenues from consumer related sources continue to increase, driven by favorable renewal of retransmission consent agreements representing one-third of Meredith's subscriber base.