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Clear Channel’s operating results for the first quarter were flat, reflecting a continued weak demand for radio advertising. Outdoor advertising performed better than radio in the quarter for the second quarter in a row, with revenue gains of 12 percent. Radio declined 4 percent.
First quarter revenues rose 4 percent to $1.56 billion, but that takes into account the effects of foreign exchange swings. Without that, revenues would have risen 1 percent, according to the AP. The results were slightly below estimates of analysts polled by Thomson Financial.
Clear Channel is in the middle of an embittered battle with buyout firms Thomas H. Lee Partners and Bain Capital to go private. Financing has been hung up and in March the company and the buyout firms sued the six banks financing the deal.
Concerns about the deal have kept Clear Channel shares well below the buyout price of $39.20 a share; they were at $29.42 in late morning trading.
Clear Channel Radio has launched what it hopes will be a valuable tool for media buyers unfamiliar with the radio format.
TotalRadius.com is a site that showcases the variety of offerings to advertisers - from digital media to traditional radio, from…
BBC Worldwide plans to launch BBC Knowledge - its first magazine in the U.S. - in August, with an initial print run of 85,000.
The magazine hopes to capitalize on the strength of the BBC brand in the U.S. “While…
Clear Channel, its private equity buyers and the banks which agreed to finance the deal have settled, with Clear Channel agreeing to accept a new deal at a lower price of $17.9 billion.
Thomas H. Lee Partners and Bain Capital…
Despite the fact that it was a modest hit, and won its time slot on Sunday nights, the reality show Oprah’s Big Give will not return to ABC next year.
ABC entertainment pres Steve McPherson said the network would “absolutely…
Turner Broadcasting is launching a system called TVinContext which will allow advertisers to place ads that are related to the content of the programming.
A movie scene taking place in a cafe might be followed by an ad for coffee, while…
Macy’s same-store sales outperformed competitors JC Penney and Nordstrom in the first quarter, falling just 2.6 percent.
Same-store sales at JC Penney dropped 7.4 percent, while Nordstrom’s declined 6.5 percent in the quarter. Revenue for the company beat analyst estimates,…
