Clear Channel Earnings Plummet 60 Percent ....hahaha...too bad

[RedEarth]

SAN ANTONIO - Clear Channel Communications Inc.'s third-quarter profit fell nearly 60 percent from the same period in 2003, which had been inflated by the nation's largest radio station operator's sale of its stake in a Spanish-language broadcasting network.


Clear Channel said Friday that it earned $261.2 million, or 44 cents per share, in the three months ended Sept. 30, down from $636 million, or $1.03 a share, in the year-ago period.


Thomson First Call said the consensus of industry analysts it surveyed was for earnings of 43 cents per share for the most recent quarter.


Clear Channel's year-ago results reflected gains on its sale of its stake in Univision Communications Inc. Without the one-time gains, Clear Channel's third-quarter profit in 2003 would have been $237 million, or 38 cents per share.

http://news.yahoo.com/news?tmpl=story&u=/ap/20041029/ap_on_bi_ge/earns_clear_channel_4

[aquart]

1. Breaking up is hard to do?

[saigon68]

22. Someone needs to Bust this monopoly up

RIGHT WING HATE RADIO

[Melodybe]

2. Screw you media bitches, they are going down!

[Zorra]

3. This is what total RW bias on our public airwaves gets them. n/t

[donco6]

4. We've had a surge of non-CC stations opening here in Denver.

Several are very good. I listen to 99.5 The Mountain. Unique style - play everything from Paul Simon to Led Zeppelin to Kansas, Queen, Coltrane (when was the last time you heard HIM on the radio?) John PRINE for god's sake. And they really know the music - share stories about "when this song was released, the band was reeling from the loss of their drummer to heroin, . . . story about how they had to go on tour. Interesting and fun to listen to.

And NOT Clear Channel pap!

[Cerridwen]

5. One by one - sinclair, now clear, next......hmmmmm - n/t

[mitchtv]

13. Pappas broadcasting next

scumbags

[Just Me]

6. I hope the "free market" sinks the right-wing propaganda machine! n/t

[RedEarth]

8. Satellite radio is going to put a big hurt on commercial radio

It will take a number of years, but just like cable tv has impacted non-cable, the same thing will happen with radio.

[sendero]

16. I agree completely.....

.... and Howard Stern is going to be a major catalyst in making that happen.

[PROGRESSIVE1]

26. Clear Channel is going to hurt now!

Satelite will crush them!

[Ganja Ninja]

7. Pertty soon the investors are going to figure out ...

that proping up the GOP isn't worth the money - then what?

[natrat]

19. i have my sirrius gadget/reciever all picked out

take it on motorcycle trips for howard stern fix,,,,its about the size of a discman so a little large for hiking/skiing...fuck radio

[utopian]

9. AAR is on a Clear Channel station in Portland

I don't see how that one could be losing money. Maybe Clear Channel should go all progressive all the time.

[shochet]

18. Air America is on a clear channel station in Denver / Boulder, too

AND IT'S A BREATH OF FRESH AIR!

[MADem]

10. As a free marketeer

I vote by not listening. When in my car, I look for oddball stations...community radio, NPR, college stations...I will not listen to that preformed pablum crap that they call music. I'd rather pop in a cd.

Before the ClearChannelfication of the airwaves, I used to listen to a lot more radio. Now I do discriminate.

[havocmom]

12. Community radio rocks!

I am so glad my fav Tucson station does web casts and I can listen to KXCI! Also many other community stations do web casts. Look 'em up and give 'em a try, America. Radio like it should be: real and relevant.

College stations are great too. Give them a listen.

As the song said: "lean to the left of the dial"

[Zhade]

24. True dat. KPFK (Los Angeles area) is worth its weight in gold.

NT!

[mac56]

11. Guess that Dixie Chicks boycott cost them a little dough.

nm

[Roy]

14. Is this why they are adding liberal stations???? heh heh N/T

[mom cat]

27. Bet that their only profits will come from Air America stations.

[one_true_leroy]

15. one thing i love...

conglomerates get so big, they can't help but implode. is like economics meets cosmology! so much for deregulation being a savior...

edit: hope wal-mart's not far behind.

[daa]

17. What do they expect when

their "Big Star" is a fat ass drug addict?? People get tired of the lies and contradictions and half truths.

Hey Boortz you're next. Limousine libertarian always seem to vote repuke in a close race.

[natrat]

20. BOYCOTT WALLMART-TELL A FRIEND

[saigon68]

23. WalMart the Evil Empire.

11 year old girls sewing shirts for 5 cents an hour for the Walton hoodlum billionaires

I hope they choke to death. They are evil people.

[Zhade]

25. DAMN STRAIGHT!

NT!

[texastoast]

21. CC--Sponsors of the Patriot Rallies

In response to the anti-war protests and where the nutjobs in the South crushed their Dixie Chicks CDs.

Hmm, Lowry Mays, CC CEO, Texas Aggie and Bush cronie. Coincidence? Yeah, right.

[AP]

28. Monopolies don't work. They're trying to make money off a music industry

they're killing with a lack of diversity that is boring people to death. How valuable can it be it to control half the distribution chain (radio, concert halls, bookers, and billborards) and 60% of the chief vehicle for marketing (radio stations) when you're making music so uninteresting that nobody wants to participate.

Well, Americans make money off the swings, so I guess, so somebody will make money by picking up the pieces when Clear Channel falls apart.

[oscar111]

29. UP 12%, not down at all! Read closely friends. Hate radio GROWS in PROFITS

In the interests of accuracy, i , a long time AAR booster, see the article really reveals a BOOST in Clear Channel earnings of 12%

knock away last year's unique boost, and last year revenue is LESS than today. See orig post's last paragraph for this info.

That means hate radio is GROWING!

Let's stay with reality, friends. We hit reefs when we live in la la land.

[AP]

30. They're still killing the music industry.