Clear Channel parent posts $4B net loss in 2009

CC Media Holdings Inc. reported a net loss of $4 billion for 2009, on par with its loss in 2008.

The San Antonio, Texas-based media company reported a 17 percent decline in revenue for the year, from $6.7 billion in 2008 to $5.6 billion in 2009. The company attributed this to “the global economic downturn and related decreases in advertising spending.”

For the fourth quarter alone, CC Media (OTC: CCMO) had net income of $147 million on revenue of $1.5 billion. This compares to a net loss of $4.9 billion on revenue of $1.6 billion in the fourth quarter of 2008.

CC Media is parent to Clear Channel Radio. In Atlanta, Clear Channel owns six radio stations: 105.3 WBZY-FM, 640 WGST-AM, 96.1 WKLS-FM, 94.9 WUBL-FM, 96.7 WWLG-FM and 105.7 WWVA-FM.

http://atlanta.bizjournals.com/atlanta/stories/2010/03/...

Isn't CC the radio stations most of the RWers broadcast on? I know some leftys do too but vey few! Hmmm...is the right losing it's attraction??? I sure hope so!

before he packed up a load of money from Minneapolis and headed back to San Antonio.

The report goes on to say that, “hen 91 percent of the talk radio programming broadcast each weekday is solely conservative—despite a diversity of opinions among radio audiences and the proven success of progressive shows—the market solution has clearly failed to meet audience demand.” The report argues that “even greater deregulation and consolidation of radio station ownership is therefore not likely to meet audience desires or serve the public interest in any meaningful way.”

-snip

On July 3, 2008, The Wall Street Journal reported that Rush Limbaugh signed a $400-million, 8-year contract with Clear Channel. Over 80 of its stations broadcast Limbaugh’s conservative talk-radio show.

-snip

http://www.cnsnews.com/news/print/44444

gobs and gobs of people aren't listening to the Limbaugh's on the wingnut radio empire - since Arbitron started using the new meters that pick-up station signals, the results are in and right-wing radio isn't as popular as thought.

Denver where KOA has hammered everyone else with the right-wing line up for YEARS is now #10 vs #1 - the local Clear Channel VP said they would have to adjust down the rates on KOA.