CLEAR CHANNEL FEELS
THE BIG SQUEEZE
Expectations for Q3
Clear Channel Communications on Wednesday issued a larger-than-expected third-quarter loss, claiming the continued downturn in the advertising market and the fallout from the Sept. 11 terrorist attacks were to blame. The radio conglom said that, prior 9/11, trends in the third quarter had been showing some improvement.
Clear Channel posted a loss of $232.2 million, or 39 cents a share, in the third quarter, compared to a profit of $448.9 million, or 96 cents a share, in Q3 2000. On average, analysts had expected the company to report a loss of 35 cents a share, with forecasts ranging from losses of 32 to 37 cents. During the period, revenues rose 46% to $2.3 billion.
CC execs told analysts that the company expects to report fiscal 2001 earnings before interest, taxes, depreciation and amortization (oh, so that's what EBITDA stands for) of $2 billion on a reported basis for the full year 2001. This would represent a 16% increase from fiscal 2000 EBITDA of $1.7 billion, the company said.
VMAs BEAMING BACK
TO THE BIG APPLE Getting back to where they once belonged (4/24a)
THE COUNT: ALL THE DESERT'S A STAGE
Jon Wayne is rolling over in his grave. (4/24a)
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THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
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A CHORUS OF PRAISE: IVORS 2024 NOMS
