Next Media Pro Forma Radio Revenue Up 3.4%

Next Media can point to an increase in its net revenue of 11.5% in the last quarter, to $31 million. But it posted a drop in operating income thanks to its alternative advertising market, which has suffered declines in revenue and operating income “as a result of deteriorating business conditions.”
Net income declined from $16.5 million for quarter last year, to a $13.4 million net loss for this year’s Q3.
The company’s radio performance is more in line with the rest of the industry; on a pro forma basis, the radio division net revenue increased 3.4% to $21.2 million.
The Denver-based company has an acquisition pending of five stations in Wilmington, N.C. It has 66 stations in 16 markets, as well as 6,200 bulletin and poster displays, as well as ad displays in retail locations.