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BHC REPORTS FIRST QUARTER EARNINGS

 BHC REPORTS FIRST QUARTER EARNINGS
 NEW YORK, April 15 /PRNewswire/ -- BHC Communications, Inc.,


(AMEX: BHC), today reported that first quarter net income declined 25 percent to $17,925,000, or 65 cents per share, form last year's $23,991,000 or 86 cents per share. Operating results of BHC's seven television stations continued to be adversely affected by weak demand for television advertising. Interest income also declined from last year's period.
 Herbert J. Siegel, BHC chairman and president, stated, "Operating revenues failed to surpass the corresponding prior year amount for an unprecedented fifth consecutive quarter, reflecting the continuing impact of the recession on the television broadcasting industry. Operating revenues for the quarter declined 4 percent, to $55,662,000 from $58,254,000 last year.
 "Television station operating expenses declined slightly from last year's first quarter, reflecting positive results from our ongoing effort to better align our cost of doing business with today's marketplace. However, the revenue decline, together with an increase in program development expense, resulted in an operating loss of $11,057,000, versus an operating loss of $7,225,000 in last year's first quarter.
 "While seasonal factors generally make first quarter operating revenues the weakest of the year, we do not expect demand for television advertising to strengthen until the nation's economy improves significantly."
 Interest and other income declined to $33,358,000 from $38,993,000 in last year's first quarter. Cash held in money market instruments increased significantly from last year's period, but interest income declined approximately $3,600,000, reflecting the decline in short-term interest rates.
 BHC operates seven television stations, two wholly owned and five owned by its 52.4 percent owned subsidiary, United Television, Inc. The nation's seventh largest television broadcaster, BHC's signals reach nearly 13 percent of the country's population.
 Chris-Craft Industries, Inc. owns all of BHC's Class B common shares, which at March 31, 1992 represented 66 percent of BHC's outstanding equity and 95 percent of BHC's voting power. BHC's Class A common shares, which represent the balance of BHC's outstanding equity and voting power, trade on the American Stock Exchange.
 BHC COMMUNICATIONS, INC.
 Condensed, Consolidated Statements of Income
 (Unaudited, in thousands except per share data)
 Three months ended March 31: 1992 1991
 Operating revenues $55,662 $58,254
 Operating loss (11,057) (7,225)
 Interest and other income 33,358 38,993
 Income before income taxes
 and minority interest 22,301 31,768
 Income tax provision 5,400 8,600
 Income before minority interest 16,901 23,168
 Minority interest(A) 1,024 823
 Net income 17,925 23,991
 Average common shares outstanding 27,487 27,899
 Net income per share $.65 $.86
 (A) -- Reflects the interest of stockholders other than BHC in the operating results of 52.4 percent owned United Television, Inc.
 -0- 4/15/92
 /CONTACT: Laurence M. Kashdin of BHC Communications, 305-946-4000/
 (BHC) CO: BHC Communications Inc. ST: New York, Florida IN: ENT SU: ERN


SM-TS -- NY047 -- 8656 04/15/92 11:45 EDT
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Date:Apr 15, 1992
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