Clear Channel second-quarter earnings fall 13 percent as revenue dips

[Judi Lynn]

Posted on Tue, Aug. 09, 2005

Clear Channel second-quarter earnings fall 13 percent as revenue dips

T.A. BADGER
Associated Press

SAN ANTONIO - Clear Channel Communications Inc., the country's largest radio station owner, said Tuesday its second-quarter earnings fell 13 percent on lower revenue and higher operating costs as the media conglomerate prepares to spin off some of its businesses.

Clear Channel reported quarterly income of $221 million, or 40 cents per share, down from $254 million, or 41 cents per share, in the same period last year.

Revenue declined 1 percent to $2.46 billion from $2.49 billion a year ago, as radio advertising sales fell nearly 7 percent to $932 million.
(snip)

The company also said it was rethinking its previously announced plan to pay a special dividend of $3 per share later this year. The company may instead use part or all of that money to repurchase stock, and any special dividend would likely be pushed back to 2006, said president and chief executive Mark Mays.
(snip)

http://www.grandforks.com/mld/grandforks/news/12339042.htm

[bluestateguy]

1. Should we root for Clear Channel now that they are invested in AA?

Just kidding.

[mom cat]

18. Bet that it is not the AAR stations that are losing money.

[geomon666]

2. That's what happens when you try to own everything.

Pigs.

[goforit]

3. LOL!!!.....Karma at its finest!!!

Propaganda dictation is financially expensive.

The price you pay for inhibiting the truth!!!

[UrbScotty]

4. I just HAD to nominate it.

:evilgrin:

[dbt]

7. I know the feeling!

:evilgrin:

[zalinda]

5. RW talk shows are dipping severely in the ratings n/t

[nookiemonster]

15. I don't actually have the data, but it appears to be so.

Maybe America is starting to tire of hateful, spiteful, childish namecalling instead of programming that really addressing issues.

Maybe......
:kick:

[ChairmanAgnostic]

6. their product is just plain lousy. at least here

I do not listen to any radio in Illinois (except news, weather, traffic) The music is unlistenable. It has gotten much worse - 4 yrs ago it was not so bad.

Their programing choices have doomed them to utter failure. Then again, corporate media conglomerates are killing themselves off. Good.

[depakid]

13. Clinton and the Republicans killed radio

with the telecommunications (or should I call it- the let's consolodate and trash radio act). People just aren't interested in generic garbage produced by some hack far away from their community.

I used to love certain stations here in Portland- now I never listen to anything other than Air America and KPSU college radio.

Oh well, too bad for Clear Channel and Viacom... they got what they wanted (and paid for). And in the same vein- so are the major record labels... who are equally stupid business people.

[davidinalameda]

8. boo hoo

[adolfo]

9. They Suck

Their radio stations play the same list of songs all freakin day. There is no variety.

[okieinpain]

12. yeah, and jesus doesn't like them either..... :~)

that's my new mantra for repugs.

[corkhead]

10. how much Foreigner and Aerosmith does anyone need?

I am about 1000' from a Clearchannel tower that blasts 50,000 watts and bleeds all over the entire FM dial. If I listen closely, I can pick up "Hot Blooded" on my toaster.

[Dr Fate]

14. I pick up "Fly Like an Eagle" in my fillings.

I agree- folks are turning to XM, Ipod- anything else that offers variety.

[YOY]

16. I can think of a radio station in Cleveland

Every third song is AC/DC, Metalica, or Guns 'n' Roses...no exageration.

All decent bands in their own right...BUT EVERY THIRD SONG.

[progressoid]

11. That funny and sad

It couldn't have happened to a better bunch but it's unfortunate that they were able to wreak havoc on our country for so long.

[truthisfreedom]

17. bwahahahaha. they bribed so many people in the business that they made

no profit... that's their MO. i know many people in the music industry who received remarkably large bribes ("we'll pay you twice what you're asking") to try to "buy" loyalty, and my friends simply took the money and worked with whoever they wanted later. clear channel's approach was haphazard and insane... they deserve to lose their shirts.

[shadowknows69]

19. As a former member of the corporate radio monster

(not clear channel) let me just say. BWAH HA HA HA HA HA. Too bad so sad. But I'm not bitter.

[wanpete]

20. nanny nanny boo boo....hardee har har...good for 'em!

[SalmonChantedEvening]

21. Proof

That hate radio is only a temporarily profitable commodity. The fad is dying and the truth is coming to light.

I love it.