Spring 2010 Quarterly Bend OR Birmingham AL Brunswick GA Cheyenne WY Eugene OR Fort Collins CO Honolulu HI Huntsville AL Indianapolis IN Pueblo CO Salisbury MD Savannah GA Wenatchee WA Jon Carter and the Coach Gary Michaels Joe Sib Mega Tanner Frankie & DB AJ Maria & Brad Dave Morales Rowdy & Erin Steve Rixx Renel Morris Knight Dean and Rog Scott Sparks No Name Show Jared Lamont & Tonelli Nikki Blakk Sam & Lissa Dana Jang

CC Media Holdings, parent of Clear Channel Radio, reported a 6% decline in consolidated revenue for the fourth quarter to $1.51 billion from $1.6 billion in 2008, a decline of 17% as compared to 2008. The company's radio unit posted a 10% drop in Q4 revenues to $712 million from $788.8 million. The company saw net earnings of $147.3 million compared to a loss of $499 million in the year-ago period.

Clear Channel said that local and national revenues were down across markets and advertising categories as a result of an overall weakness in advertising and the economy. The decline led to drops in total minutes sold and yield per minute in 2009 compared to 2008.

President/CEO Mark Mays commented: "We began to see encouraging trends in the global advertising environment during the fourth quarter, as our overall revenues demonstrated sequential improvement in the final three months of the year."

He continued, "During the past year, we have implemented a concerted plan to achieve significant cost efficiencies across our operations. We have also strengthened our management team and sales organization and made considerable progress in developing our content distribution and advertising capabilities. These efforts will continue in 2010 as we seek to maximize our performance." (03-11-10)

Menu | Contact Us | Subscribe | Advertise | Privacy Policy | About Us

Copyright © 1989-2010 RADIO ONLINE ® The publisher makes no claims concerning the validity of the information posted on RADIO ONLINE and will not be held liable for its use. No part of this material may be reproduced in any form, incorporated in any information retrieval system or otherwise redistributed without the prior written permission of the publisher.