Clear Channel Radio Revenues Fall In Q3
November 9, 2009: Clear Channel Communications parent CC Media Holdings reports that it brought in $1.4 billion in revenues in the third quarter, down 17 percent from $1.7 billion in Q3 2008. Operating expenses were down 17 percent, to $969.8 million from $1.2 billion.
Radio revenues were also down 17 percent, to $703.2 million from $843.9 million, with outdoor down 19 percent, to $660.6 million from $813.4 million. CCMH OIBDAN was $353.6 million in the quarter. down 29 percent from $496.5 million a year ago.
The company said in its 10-Q filing with the Securities and Exchange Commission that the radio business "has been adversely impacted and may continue to be adversely impacted by the difficult economic conditions currently present in the United States."
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(11/10/2009 8:05:17 AM) Couldn't happen to a nicer bunch of guys. You reap what you sow! |
| - David Aamodt |
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