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Radio Business News

Citadel Q3 Revs Down 14.1%, Earnings Swing to Loss In a 10-Q filing, Citadel Broadcasting reported third quarter net revenues fell 14.1% to $183.8 million from $213.9 million in 2008. Radio revenues declined 9.9% to $155.8 million from $172.9 million, while radio operating income (OI) was flat at $51.4 More

CBS Radio Tops Ando Media's Internet Audio Top 20 CBS Radio tops Ando Media's monthly Internet Audio Top 20, consisting of May through September, 2009. The media giant's interactive division saw 214,181 average active sessions, 35.4 million session starts and an average time spent listening share of 1.8. More

NPR, iBiquity Strike Deal on HD Radio Power Increase iBiquity Digital, developer of HD Radio, and NPR announced an agreement for managing an HD Radio power increase, significantly improving reception of HD Radio signals. The two organizations jointly presented their recommendations to the FCC on Thursday, More

CBS Corp. Q3 Revs Flat, Radio Unit Continues Decline CBS Corp. reported third quarter revenues were essentially flat at $3.35 billion when compared to $3.38 billion in 2008. Operating income was $565.6 million compared with a operating loss of $13.48 billion in last year's third quarter. The company's radio unit, CBS Radio, posted $318.9 million in Q3 revenues, a 19% drop from 392.5 More

Salem Q3 Total Revenues Fall 10.2% to $48.9 Million Christian radio broadcaster Salem Communications reported a total revenue decline for the third quarter of 10.2% to $48.9 million from $54.4 million. Operating expenses decreased 20.8% to $54.4 million from $68.7 million, while operating loss from continued operations was $5.5 million. The company posted a net loss of $4.6 More

Arbitron Filing Cites CC, CMLS Moves for Down Revs In a 10q filing with the SEC, Arbitron reveals that Cumulus and Clear Channel's move to Nielsen in some of their smaller markets contributed to the $4.6 million decline so far in 2009 revenue. The ratings giant expects revenues to fall by $5 million this year and then $10 million per year thereafter. "Due to the impact of More

Regent Q3 Revenues Down 13.9%, Loss Narrows Regent Communications posted a 13.9% drop in third quarter broadcast revenues to $21.8 million from $25.3 million in 2008. Station operating expenses fell 4.8% to $14.6 million from $15.3 million. The company reported a net loss of $0.4 million (one cent per share) compared with a reported net loss of $46.3 million ($1.19 per More

Entravision Q3 Revs Down 17%, Loss Swings to Profit Spanish-language broadcaster Entravision Communications reported a 17% decrease in net revenues for the third quarter to $50.8 million from $61 million in 2008. The company's radio segment fell 20% to $18.7 million from $23.5 million. Operating expenses declined to $30.6 million from $37 million, mainly due to a decrease in More

Simmons Media Sells WFFX-AM/St. Louis for $450K Entertainment Media Trust has agreed to acquire 1kw Sports WFFX-AM (1490)/St. Louis from Simmons Media Group, headed by David Simmons, for $450,000. The buyer, led by Trustee Dennis Watkins, owns, or is acquiring, three other AM stations in St. Louis. Greg Guy and Larry Patrick of Patrick Communications represented the More

Nielsen Study Finds 77% of Adults Listen to Radio A Nielsen study of media use, conducted by the Council for Research Excellence (CRE), found that 77% of adults are reached by broadcast radio on a daily basis, second only to television at 95%. The study, in which consumers were physically observed consuming media throughout the day, found that Web/Internet (excluding e-mail) More

Cumulus Q3 Revs Down 18.5%, Profit Swings to Loss Cumulus Media reported an 18.5% drop in third quarter net revenues to $65.1 million from $79.9 million in 2008. Station operating income (SOI) was also down, falling 14.4% to $64.7 million from $81.5 million. The company posted a loss of $143.9 million ($3.56 per share) compared to earning of $6 million (14 cents) in the More

Bohn Media Reorganizes and Merges with SparkNet Bohn and Associates Media is merging with SparkNet Communications, the company behind the Jack FM format, effective January 1. The merger aligns the Canadian broadcast consultancy with SparkNet's "Jack FM" and "Playing What We Want" brands in the United States and Europe. The new SparkNet will run under the direction of Pat More

Entercom Q3 Net Revenues Down 14%, Earnings Rise Entercom posted a 14% decline in net revenues for the third quarter to $99.8 million from $115.5 million in 2008. Station operating income (SOI) dropped 23% to $34.2 million from $44.2 million. EBITDA decreased 25% to $29.7 million. Net earnings rose to 18.2 million from $4.2 million. Net income per share grew from 12 cents to More

MMTC Comments Call on FCC to Kill Outdated Rules The Minority Media and Telecommunications Council (MMTC) submitted comments to the FCC to reiterate its support of the statements made in the group's previous petition for rulemaking. In light of the distressed state of the radio industry, MMTC urges the Commission to take action and revise or delete certain "outdated and More

Beasley Q3 Revenue Down 20.1%, Earnings Decline Beasley Broadcast Group posted a 20.1% decline in third quarter revenues to $24.4 million from $30.6 million in 2008. Operating income (OI) decreased 3.4%, to $5.8 million from $6.2 million, while station operating income (SOI) fell 24.1% to $6.9 million from $9 million. Beasley reported net earnings of $1.4 (6 cents per share) More

Broadcast Leadership Training Pgm to Be Honored The NAB Education Foundation (NABEF) and House Majority Whip James E. Clyburn (D-SC) will celebrate the Broadcast Leadership Training Program's (BLT) 10th anniversary at a reception held at the U.S. Capitol on November 4. The event will be emceed by WJLA-TV anchorman Leon Harris. Aimed at increasing diversity in More

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