Cox Radio Revenues Off Due To Loss Of Braves, Income Up

COX RADIO third quarter revenues slipped 3.2% to $113.235 million, but net income rose 16.9% to $21.457 million (21 cents/share), operating income rose 12.5% to $42.498 million, and free cash flow rose 7.3% to $28.452 million. The revenue drop is attributed to the loss of ATLANTA BRAVES baseball at WSB-A/ATLANTA; excluding the BRAVES effect, revenues actually rose 1.8%, paced by MIAMI, TAMPA, HOUSTON, and SAN ANTONIO offset partially by ORLANDO, JACKSONVILLE, SOUTHERN CONNECTICUT, LOUISVILLE, and RICHMOND. ATLANTA was off 11.3% due to the loss of BRAVES game broadcasts.

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