CBS Radio Feels Decline in Ads

Analyst says radio in general is pacing below Q4 'in almost every market'
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CBS Radio said revenues fell 18% in the fourth quarter and 12% for all of last year.

Fourth-quarter revenues were $366.7 million — compared to $447.1 million for the same period a year ago. Full-year radio revenues were $1.54 billion from $1.75 billion for 2007.

CBS cited the difficult advertising market and the impact of some station sales for the drop.

Wachovia analyst Marci Ryvicker said in a report following the news: "Our contacts tell us that radio" — the industry, not specifically CBS — "is pacing below Q4 in almost every market."

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CBS Radio Revenue Falls

In the company’s fourth quarter, “same station” revenue fell 7%, and overall radio revenue decreased 10%, reflecting weakness in ad sales as well as the impact of radio divestitures in 10 markets.