Liberman Radio Revenues Up 6% In Q3Or, if you're bored, here's the whole big long thing, at Yahoo!
By Julie Gidlow
LBI Media, parent company to Liberman Broadcasting, reported that its third-quarter radio revenue climbed 6% to $17.5 million. Including its TV division's 3% revenue loss, the company's revenue was up 2%. LBI's overall net loss widened from $11.1 million to $29.4 million.
"We delivered solid results during the third quarter, despite a very challenging advertising market," said LBI executive VP and secretary Lenard Liberman. "Our third quarter revenue growth was primarily driven by our radio operations, which outperformed our peers and the industry. We saw strength across all of our radio markets during the quarter, as we converted our strong audience shares into advertising dollars.
"At our Texas stations, we continue to benefit from the changes we made to our programming, which have led to audience growth and a strong advertiser response, despite very difficult comparisons to last year and the negative impact of Hurricane Ike during the period. We own nine radio stations and one television station in Houston and estimate that lost air-time and ad cancellations caused by the hurricane negatively affected our third-quarter net revenues by about 100 basis points."
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http://biz.yahoo.com/prnews/081114/laf513.html?.v=24
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