Clear Channel Radio Revenue Down

Clear Channel Radio Revenue Down
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Clear Channel Radio blamed weaknesses in local spot sales, small-market revenues, national syndication business and non-traditional revenues for a drop in its revenue in the second quarter. Overall company revenue was up, however (see separate item, below).
Reported basis and pro forma revenue decreased 2.1 percent and 2.6 percent, respectively, compared to the same period of 2002. Retail, auto, telecom/utility and entertainment were the strongest national ad categories while consumer products and fast food categories were weaker.