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End of Year Will Be a ‘Challenging’ Time at Clear Channel

End of Year Will Be a 'Challenging' Time at Clear Channel

“Challenging.” That’s the word from the CFO of Clear Channel about the fourth quarter, according to Reuters. The group has forecast a challenging quarter for radio as it gets ready to cut back on the number of commercials per hour.
Randall Mays said the third quarter would be flat and “the fourth quarter is going to be a challenging environment, more challenging,” speaking at a conference for investors in California sponsored by Merrill Lynch, Reuters reported. Mays said the company had a tremendous amount of unsold inventory. He also said some of the pessimism about radio’s outlook is excessive.
“Radio is still alive and healthy, contrary to a lot of the opinions out there.”