Clear Channel Radio Revenue Up 3% In Q1
CC Media Losses Narrow
May 10, 2010 at 2:03 PM (PT)
CC MEDIA HOLDINGS INC. had some good news to report on the radio front in Q1 2010, as radio division revenue rose 3% and earnings climbed 41%, reports the WALL STREET JOURNAL. CC MEDIA as a whole posted a loss of $175.4 million, compared with a year-earlier loss of $418.2 million. Revenue grew 4.6% to $1.26 billion, or 2% excluding changes in currency values.
"As our top line returns to growth, we are demonstrating significant improvement in our operating margin due to the positive impact of our restructuring program," CC MEDIA Pres.CEO MARK MAYS said.
CC MEDIA made a profit in the Q4 '09 after five straight losses. It owns 89% of CLEAR CHANNEL OUTDOOR, which has been in the red for sixth straight quarters, yet its losses decreased in Q1 2010.