Broadcasting Telecasting (Apr-Jun 1958)

^11/ Ml I THEVO.CE 1 yy II Li I OF LONG ,SLAND STATIONS CONTINUED 10,000 POWERFUL WATTS TO DELIVER THE GREATER LONG ISLAND MARKET (Nassau Suffolk) WHLTs GREATER LONG ISLAND COVERAGE . . . NASSAU SUFFOLK TOTAL POPULATION 1,200,000 525,000 1,725,000 NET INCOME $2,928,340,000 $755,604,000 $3,683,944,000 PER FAMILY . $8,503 $5,698 RETAIL SALES 1,534,786,000 564,961,000 2,099,747,000 FOOD STORE SALES 403,423,000 152,997,000 556,420,000 AUTO STORE SALES 252,922,000 93,225,000 346,147,000 WHLI HAS THE LARGEST DAYTIME AUDIENCE IN THE MAJOR LONG ISLAND MARKET! (Pulse) THE 2nd LARGEST MARKET IN NEW YORK! NOW REACHES 5,500,000 PEOPLE GSVES YOU TREMENDOUS, IMPORTANT, "BIG MONEY-MARKET COVERAGE AMAZINGLY LOW, LOW, COST-PER-THOUSAND WITHIN WHLI'S COVERAGE AREA POPULATION . . 5,477,000 NET INCOME . . .$11,758,859,000 RETAIL SALES . 6,125,535,000 ►10,000 WATTS WHLI! ik ma of A M 1100 F M 98.3 HEMPSTEAD LONG ISLAND, N. Y. Represented by Gill-Perna Paul Godofsky, Pres. & Gen. Mgr. Joseph A. Lenn, Exec. V.P. Sales DuMont Cuts Loss Tax On Stations $243,460 The DuMont Broadcasting Co. last year chopped off $243,460 from its tax loss carried forward from 1956. There is a $1,322,016 loss remaining which the company will apply against profitable operations in 1958 and future years. The financial upturn at DuMont Broadcasting (WTTG [TV] Washington, WABD [TV] New York, WNEW New York and purchase of WHK Cleveland pending FCC approval) was revealed last week in its annual report. Gross revenues from the two tv stations and seven months of WNEW's operation (starting with June 1 of last year) totaled $10,293,587 ($8,914,115 after agency commissions), or nearly double the 1956 revenues. Net income in 1957 before depreciation and amortization totaled a little over $1.35 million compared to $55,598 in 1956. Net loss in 1956 was placed at nearly $900,000. Bernard Goodwin, president of DuMont Broadcasting, said that this year the company expects improved "product and benefits accruing in programming, operations, and sales coverage" and believes "revenues will be appreciably higher, our cash throwoff substantially greater and our net profits better than the results in 1957." In a proxy statement to stockholders accompanying the annual report the company proposed its name be changed to Metropolitan Broadcasting Corp. "as being more descriptive of the corporation's activities in owning and operating broadcasting stations in metropolitan centers." At the stockholders7 meeting May 12 in New York, election of a slate of board nominees also will be considered. DuMont Broadcasting was created Sept. 12, 1955, to take over the broadcasting facilities of Allen B. DuMont Labs after the liquidation of the former DuMont Network, and was separated completely from its former parent company in December of that year. WNEW was acquired last May 31 in a $7.5 million cash-and-stock transaction. The original bank loan involved $3.5 million for five years. As of last December, DuMont Broadcasting owed $3.15 million with $700,000 payable this year. WHFI-FM New York was purchased late in 1957 and its call letters changed to WNEW-FM. WHK was acquired for $700,000 to be paid out of cash resources. Stockholders last year authorized the board to negotiate for the purchase of Paramount Pictures Corp.'s KTLA (TV) Los Angeles and publishing companies, but the parties failed to agree and "negotiations have been discontinued." Terms of the bank loan agreement prohibit DuMont Broadcasting to declare or pay dividends until the loan is fully discharged. DuMont Broadcasting now has, 1,541,137 shares of capital stock issued and outstanding. During the year, transmission facilities were improved for both television stations. Page 66 • April 14, 1958 Broadcasting