Ad revenues fell 12% overall led by print's decline, and circulation revenues fell 12% as well. The drops were mitigated by other gains, including an increase in TV and content licensing and syndication and growth in event revenues.
Revenue breakout: Print and other advertising, $237M (down 18%); Digital advertising, $132M (up 2%); Subscription, $135M (down 9%); Newsstand, $55M (down 19%); Other circulation, $7M (flat); other revenues, $113M (up 3%).
Revenues by source: Magazines, 4433M (down 14%); Digital, $165M (up 3%); Brand extensions and other, $81M (down 4%).
It's expecting full-year OIBDA of $400M-$414M, well above consensus for $377M.