Wednesday, February 8, 2012
Basketball stoppage hits Monosodium glutamate profit
Hit with the Basketball work stoppage that postponed the basketball season until late around, Monosodium glutamate Systems saw internet profit fall to $26 million from $33 million due to its fiscal second quarter. Revenue dipped to $373 million from $432 million. Monosodium glutamate Systems, which airs the games, and music funnel Fuse, saw revenue ease 1.2% to $142 million. Affiliate fee revenue rose $4 million on greater rates offset with the impact from the contractual adjustment as well as the formerly revealed expiration from the affiliation agreement. Monosodium glutamate is at a carriage fight after a while Warner Cable and attracted the systems within the operator's systems on December 31 following a two sides not successful to accept new rates after their contract had expired. Networks' advertising revenue decreased $5.7 million on less Basketball games telecast round the Monosodium glutamate Nets due to the strike, although lower trading also aided boost operating earnings about 14%. Monosodium glutamate sports franchises NY Knicks (Basketball), the NY Rangers (NHL), the NY Liberty (WNBA) as well as the Connecticut Whale (AHL), saw revenue drop 31% to $87 million since the baseketball strike hit ticket sales, broadcast rights costs, league distributions, food, beverage and merchandise sales, and sponsorship and signs revenue. Monosodium glutamate Entertainment, which has storied venues Madison Square Garden, Radio City Music Hall as well as the Beacon Theater, saw revenue fall 15% to $151 million. Contact the number newsroom at news@variety.com
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