Eugene David ...The One-Minute Pundit |
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Monday, March 02, 2009
MORE SCARY:
For the year, CC posted a $4 billion loss in part to a $5.2 billion impairment charge. Revenue declined 3 percent to $6.7 billion. Radio revenue dropped 13 percent in fourth quarter to $788.8 million. About 43 percent of the division's decline occurred during the fourth quarter, sending full year revenue down 7 percent to $3.3 billion. [Emphasis added] The good news is, it's CHEAP CHANNEL. The bad news is, it's the economy.
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