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Clear Channel Communications posted yesterday a 21 percent slide in profits for the third quarter, due to lower radio advertising sales, Reuters reports. The radio station chain warned that current-quarter revenues were set to fall, as well. The effort to reduce ad time and drive up advertising prices - which in turn would draw bigger audiences - has boosted listening trends, the company said, but revenues have continued to decline.
Clear Channel CEO Mark Mays said that, while the company’s businesses were generally improving, October looked as though it would be a difficult month for radio, especially after last year when political advertising had been strong.
The company also said it is on track to complete a restructuring involving an IPO of a portion of its billboard advertising unit and a spin-off of its live entertainment unit by the end of the year.
Arbitron has reached a settlement with the State of New York, in a move that will resolve all claims against Arbitron that were alleged in the lawsuit filed against the company by the NY Attorney General relating to the marketing…
Just weeks after shuttering the print edition of PC Magazine and moving it entirely online, Ziff Davis has announced that it is closing the books on Electronic Gaming Magazine, due to the sale of its collection of video game sites,…
Angered by a London bus advertisement that sent her to a website where she was told that she was going to hell, to spend all eternity in torment, comedy writer Ariane Sherine decided to launch a counter-campaign.
She began raising…
Time Warner said today that the economy has been more challenging in terms of its advertising business than it had expected, particularly at AOL and the Time Inc. publishing units.
The company said it will post a net operating loss…
On its Google Checkout page, Google claims a “Checkout” icon can increase ad click-through by 10%. (At least one client, Fred Lerner of e-commerce network Ritz Interactive, claims the Checkout icon increased clickthroughs by 23%.)
What’s more, Google Checkout users purportedly…
Even through a recession U.S. consumers redeem just 1%-3% of paper coupons, but up to half of the coupons that Kroger sends to its customers are redeemed - because it uses a data-mining firm it part-owns to target specific customers.
Kroger,…
