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Article: Citadel Broadcasting Corporation Reports 2005 Fourth Quarter and Full Year Operating Results; ABC Radio to Merge with Citadel Broadcasting Corporation, Creating Third Largest National Radio Group.
- Article from:
- Business Wire
- Article date:
- February 23, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LAS VEGAS -- Citadel Broadcasting Corporation (NYSE:CDL) today reported its results for the fourth quarter of 2005.
December 31, 2005 - Fourth Quarter Results
Net revenues for the fourth quarter of 2005 were $108.3 million compared with $109.8 million in the fourth quarter of 2004, a decrease of $1.5 million, or 1.4%. The decrease in revenues was principally due to lower revenue from political advertisers in 2005 compared to 2004, which declined by $2.9 million. Net revenues in the fourth quarter of 2005 were also affected by lower revenues at the Company's stations in the New Orleans market as a result of Hurricane Katrina in August 2005. Revenues were ...
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