Question-and-Answer Session
Operator
(Operator Instructions) Our first question will be from John Janedis with Wells Fargo Securities.
John Janedis - Wells Fargo
I know it’s still early but can you talk about what you are seeing from a ratings perspective on your evening news and what impact Leno is having on revenue? And when you look at the 4Q guidance of down low 20s at this point, how different do you think it would be if NBC decided to go with a more traditional schedule? Thanks.
Craig A. Dubow
You know, just taking a look first at the programming, my sense of it is that right now we would probably be in a little better position with the traditional prime but it’s awfully early to tell yet and from an overall standpoint, when you take a look at that, I think Leno itself is going to give us some opportunity as we move forward. But taking a look at the news, again what we must do is be certain that we are doing everything we can locally. So it’s again early on all of this to really tell any impacts that we are going to have in that direction but we’ll see where it goes and keep you posted as we move forward.
Operator
Your next question comes from the line of Alexia Quadrani with J.P. Morgan.
Alexia Quadrani - J.P. Morgan
Thank you and welcome back, Craig. My question is on the cost side -- if you could share with us what your preliminary thinking is on the costs for next year. Is the decline we saw in this quarter a good run-rate for next year? And did you have the furloughs? Did the furloughs continue into Q3 and what are your thoughts going forward? And maybe also touch on the newsprint -- have you stockpiled an above average amount given the possibility of some price increases ahead?
Gracia C. Martore
You know, Alexia, it’s a little early for us to comment on the cost side for next year. We are literally just beginning to look at the budgets that are bubbling up from our local units. What I will tell you is that a lot will depend on what the revenue outlook is for next year. I don’t think we assume that the revenue outlook next year is going to be quite as difficult as it was this year but we’ll have to take a look at that and then some of the expense initiatives that we’ve done are ongoing and permanent reductions. We’ll cycle some of those but then there have been new ones, obviously, in July and beyond that will benefit us well into next year.
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