Susquehanna Radio Revenues Up 1% In Q3
November 14, 2005 at 3:38 PM (PT)
It may be elementary now that the division's been sold and broken up, but SUSQUEHANNA MEDIA's third quarter showed radio revenues rising 1% to $62.063 million and overall net income off year-to-year from $8.155 million to $7.873 million. SUSQUEHANNA PFALTZGRAFF recently announced the sale of the company's radio portfolio to a new company formed by CUMULUS and a group of backers, CUMULUS MEDIA PARTNERS, and the company's cable assets to COMCAST, which previously owned 30% of the SUSQUEHANNA cable assets through its affiliate LENFEST YORK.
The SEC filing also notes that oral arguments in the $10 million lawsuit by BRIDGE CAPITAL INVESTORS II against SUSQUEHANNA for breach of contract and unjust enrichment over the move of then-WHMA-F/ANNISTON, AL to ATLANTA (now WWWQ) are scheduled for the week of DECEMBER 5.