Posted
7:06 PM
by Gene
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.