Clear Channel Q3 Revs Down 17%, Radio Declines

RADIO ONLINE | , , | :am CT

CC Media Holdings, the parent company of Clear Channel, reported third quarter revenues dropped 17% to $1.4 billion from $1.7 billion in 2008. Included in the company's revenue is a $10.2 million increase due to movements in foreign exchange. Operating expenses decreased 17% to $969.8 million. Radio revenues fell 17% to $703,232 from $843,943.

The Company's income before discontinued operations decreased to a loss of $92.7 million. Clear Channel posted a net loss of $89.8 million as compared to $44.7 million.