BET posts gain in 2nd-qtr. net
For the three-month period, BET recorded net income of $ 3.3 million, compared to $ 2.9 million last year.
Revenue increased to $ 18 million from $ 15 million the year before (advertising revenues increased 20% to $ 10.2 million from $ 8.5 million in the second quarter '92 while subscriber revenue increased 22% to $ 7.8 million from $ 6.4 million).
The company reported progress in renegotiating its new 10-year rate card for the cable network with 50 current affiliates (representing about 31% of its subscribers) having signed on as of March 3.
BET Holdings closed yesterday at 16.375, up 37.5 cents.
