Clear Channel Profits Flat

Submitted by LynnS on Tue, 08/08/2006 - 3:07pm.

...but don't blame the radio stations:

San Antonio-based Clear Channel has bet on a strategy to cut back commercial air time in a bid to boost ratings and prices per ad. The "Less is More" ad policy comes as radio operators face growing competition from satellite radio and digital music players.

For the second quarter, Clear Channel said radio broadcast revenue rose 6 percent to $983.5 million, while outdoor advertising grew 9 percent to $748 million.

Clear Channel posted $197.5M in profits in the second quarter, down slightly from the same quarter last year. It owns KEX, Z100, K103, KIJZ and KPOJ here in Portland.

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