Cox Radio — the No. 3 U.S. radio company when measured by how much money it brings in — saw net revenues drop 1% in the fourth quarter from the same period a year before, to $106.8 million.
For the year, revenue was up 1%, to $425.9 million. Of that figure, national sales were up 7%, local was down 2%, mirroring general trends across the industry last year. Its revenue growth market leaders were Orlando, Tampa, Richmond, Dayton, Louisville and Greenville-Spartanburg.
President/CEO Robert F. Neil expressed optimism for this coming year and said he expects revenues to be up in the mid-single digits.
“While we expect first-quarter revenues to be positive, we face difficult comparisons in the near term given our very strong performance last year,” he stated.
Cox runs 78 stations in 18 markets.
Cox Revenue Was Up 1% Last Year
Cox Revenue Was Up 1% Last Year