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Cox Revenue Was Up 1% Last Year

Cox Revenue Was Up 1% Last Year

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.