LBI Media Radio Revenues Fall Again In Fourth Quarter
April 3, 2012 at 4:09 AM (PT)
LBI MEDIA, INC. fourth-quarter 2011 net revenues decreased by 2% to $30.1 million. Radio net revenues fell 12% to $13.5 million, blamed on declines in ad revenues in DALLAS, HOUSTON and LOS ANGELES, partially offset by increases in syndication revenues spurred by the DON CHETO morning show. Adjusted EBITDA dropped 60%, to $3.7 million.
CEO/Pres. LENARD LIBERMAN said, "The ESTRELLATV network celebrated its second full year of operation in 2011 and in the fourth quarter it achieved significant ratings milestones. In the NOVEMBER sweeps period, ESTRELLATV became the #3 Hispanic television network in primetime in important male demographics. This performance came with other significant ratings successes and is a testament to the programming and distribution strategy of the network. While our radio stations experienced a challenging fourth quarter and full year in 2011, we are confident that we can return our radio group to its historic industry leading performance."