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Article: United States:Clear Channel parent company posts $5 billion loss.(Financial report)
- Article from:
- TendersInfo
- Article date:
- March 4, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. 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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Byline: sanjayc03
CC Media Holdings Inc. -- holding company for Clear Channel Communications Inc., Colorado's largest radio-station operator -- reported a double-digit decrease in revenues for the fourth quarter of 2008 as companies curtailed advertising spending in response to the worsening economy.San Antonio, Texas-based CC Media Holdings (OTC BB: CCMO) had a net loss of $5 billion on revenues of $1.6 billion for the three months ended Dec. 31, 2008. This compares to net income of $320 million on revenues of $1.9 billion for the same period a year ago.
The company attributes its net loss to the economic slowdown that is adversely affecting advertising ...
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Article: CC Media Holdings, Inc. Reports Fourth ...
Business Wire;
March 2, 2009 ;
700+ words
...SAN ANTONIO -- CC Media Holdings, Inc. (OTCBB: CCMO) today ... Fourth Quarter 2008 Results CC Media Holdings reported revenues of $1.6 billion ... compared to 2007. Included in CC Media Holdings' fourth quarter 2008 expenses ...
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