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Radio Biz Flat at Clear Channel

Radio Biz Flat at Clear Channel

Radio revenue was off by a whisker in the recent quarter at the industry’s biggest company.
Clear Channel said radio revenue fell $3.6 million, a fraction of a percentage point, compared to the same quarter of 2003, to $960.1 million. It said local ads, traffic and network revenues were up, but performance was dragged by a decline in national ads, primarily in auto and telecom advertising, and in the company’s larger markets.
Overall, however, Clear Channel Communications said revenue was up 4% to $2.6 billion in the quarter.
President/CEO Mark Mays called the company’s financial numbers “strong … during what proved to be a very challenging quarter.”

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