Radio companies were pleased with third-quarter results that they reported last week. Jacor Communications Inc.(Jacor Communications Inc. and Clear Channel Communications Inc. report strong third-quarter earnings)(Business Brief)(Brief Article)

Broadcasting & Cable, November, 1998

Radio companies were pleased with third-quarter results that they reported last week. Jacor Communications Inc. improved on a 30 1997 loss of $1 .4 million, turning it into earnings of $439,000 in the most recent quarter. Jacor's 97 stations contributed $56 million to the quarter's record revenue of $204.5 million, up 41.5%, while broadcast cash flow jumped 49%, to another record of $75.7 million.

Jacor Communications Inc. is merging into Clear Channel Communications Inc. , which reported earnings of $11.5 million, down 38% from third quarter 1997. Net income fell because of an increase in non-cash expenses associated with deals completed since fourth quarter 1997. Net revenue doubled, to $385.9 million. Meanwhile, net income at Cox Radio Inc. rose more than...

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