BroadcastingOperating income at Broadcasting decreased $84 million to $178 million for the quarter due to higher programming costs, lower program sales and decreased advertising revenue, partially offset by higher affiliate revenues and lower general and administrative expenses. Higher programming costs were due to higher program write-offs and a contractual rate increase for Modern Family. The decline in program sales reflected higher sales of Revenge and Army Wives in the prior-year quarter. Lower advertising revenue was driven by a decrease at the owned television stations, partially offset by an increase at the ABC Television Network. The increase at the ABC Television Network was due to higher rates and more units delivered, partially offset by lower ratings. Affiliate revenue growth reflected higher contractual rates. Lower general and administrative expenses were driven by lower labor costs primarily as a result of decreased pension and postretirement medical costs.
The Walt Disney Company Reports First Quarter Earnings For Fiscal 2014
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