Political Saves Year For Clear Channel
In 2012, Clear Channel took in a total of $114 million in political advertising (including Katz). The Media and Entertainment division of Clear Channel, which includes radio, took in $40 million in political advertising in the 4th quarter of 2012. Total revenue for CCME in the 4th quarter of 2012 was 821.5 million, an increase of 4 percent. Revenue for the 4th quarter of 2011 was $790.8 million. So if you back out the $40 million in political, revenue for CCME would have been down about $9 million. CFO Tom Casey (pictured) said national revenue was up 17 percent for Q4 (3 percent if you back out political) and local was up 5 percent buoyed by automotive and telecom. That leaves Premiere Radio Networks and the Total Traffic Network which Casey admitted were not performing.
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