ACME Communications Revises Third Quarter 2001 Financial Outlook; Company to Report Complete Third Quarter 2001 Financial Earnings On October 30th.SANTA ANA Santa Ana, city, El Salvador Santa Ana (sän'tä ä`nä), city (1993 pop. 129,873), W El Salvador. It is the second largest city in the country and the commercial and processing center for a sugarcane, coffee, and cattle region. , Calif.--(BUSINESS WIRE)--Oct. 4, 2001 ACME Communications ACME Communications (NASDAQ: ACME) is a television broadcasting company that owns seven television stations. Six stations are CW Television Network affiliates. The seventh, part of a duopoly in Albuquerque, New Mexico, is a MyNetworkTV affiliate. , Inc. (Nasdaq:ACME), the nation's third largest affiliate group of the WB Television Network, today revised its financial forecast for the third quarter of 2001. Due to the terrorist attacks on September 11th, and the resulting adverse impact on the overall economy and advertising demand, the company now expects third quarter 2001 revenue to decline 7%-8% compared to third quarter 2000 levels. It also expects third quarter 2001 broadcast cash flow to decline 28%-30% compared to third quarter 2000 levels. The company previously estimated that third quarter 2001 revenue would be flat to down 5%, while broadcast cash flow would be down 22%-28%, both compared to third quarter 2000 levels. Results were pacing in line with these previous estimates prior to the September 11th tragedy. Jamie Kellner Jamie Kellner is an American television executive. He was chairman and chief executive officer of Turner Broadcasting System, Inc., a division of Time Warner which includes TBS, TNT, and Cartoon Network. , ACME's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, "The tragic events of September 11th, and the related impact on our nation's economy, had an immediate and adverse effect on all advertiser-supported businesses. We are lowering our third quarter 2001 outlook to reflect the impact of these events. The media industry is obviously faced with a very challenging advertising environment, and ACME is not immune to these challenges. Continued low visibility of future advertising demand and the impact of potential military action or further terrorist strikes make it difficult to forecast full-year 2001 estimates at this time. However, we remain very positive about the long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. outlook for ACME, due to the ratings and distribution gains made this year by our young station group. We will continue to manage our costs as prudently as possible, while supporting our programming and sales efforts." ACME also announced today that the company will release complete third quarter 2001 financial results on Tuesday, October 30, 2001, following the close of market hours. Senior management will also host a conference call on October 30th at 5:00 P.M. Eastern Time to discuss third quarter results. To access the conference call, please dial 973-872-3462 ten minutes prior to the start time. A live webcast will also be available on the company's Web site, located at www.acmecommunications.com. If you cannot listen to the live conference call, there will be a replay available until November 1, 2001, which can be accessed by dialing 877-519-4471 (U.S.), or 973-341-3080 (Int'l), passcode 2719969. The webcast will also be archived on the company's Web site for one week. About ACME Communications ACME Communications, Inc. owns and operates ten television stations serving markets covering 5.4% of the nation's television households, making the Company the third largest affiliate group of The WB Television Network. The Company's stations are KPLR-TV, St. Louis MO; KWBP-TV, Portland, OR; KUWB-TV, Salt Lake City, UT; KWBQ-TV and KASY-TV, Albuquerque-Santa Fe, NM; WBDT-TV, Dayton, OH; WBXX-TV, Knoxville, TN; WIWB-TV, Green Bay-Appleton, WI; WBUI-TV, Champaign-Springfield-Decatur, IL; WTVK-TV, Ft. Myers-Naples, FL. All of the Company's stations, except KASY-TV, a UPN UPN User Principal Name (Microsoft Windows 2000) UPN United Paramount Network UPN Unión del Pueblo Navarro (Navarrese People Union) UPN Umgekehrte Polnische Notation affiliate, are WB Network affiliates. In addition to the ten stations currently owned and operated, the Company has entered into agreements with third parties to acquire construction permits to build new stations in Portland, Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. (a second station in that market for ACME), Richmond, VA, Flint flint, mineral flint, variety of quartz that commonly occurs in rounded nodules and whose crystal structure is not visible to the naked eye. Flint is dark gray, smoky brown, or black in color; pale gray flint is called chert. , MI and Lexington, KY when and if granted by the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. . ACME's shares are traded on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol: ACME. |
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