LBI Media Q1 Net Revenues Up 5%, Radio Grows 13.5%

Spanish-language broadcaster LBI Media reported first quarter net revenues grew 5% to $26.4 million from $25.1 million in 2007. The increase was primarily due to improved ad revenues in its radio division, with revenue rising 13.5% to $13.7 million from $12 million. The company posted a Q1 net loss of $5.9 million, down from a net loss of $46.5 million in the year-ago period.

Executive VP/Secretary Lenard Liberman commented, "Despite the impact of a softening economy both locally and nationally, LBI Media continues to grow its top line revenue through aggressive sales management, ratings performance and targeted acquisitions. For the first time since 2004, Univision's Piolin morning show dropped to #2 in the market and was beaten by LBI's Don Cheto morning show in Los Angeles."

He continued, "This continued ratings success in both radio and television underscores the value of LBI's franchise and sets the stage for continued investment and growth through the increase of our distribution platform. Our ratings success continues to distinguish LBI in the Spanish language media industry and points to the importance and value of our programming content." (05-14-08)