We had a server outage, and we're rebuilding the site. Most of the site features won't work. Thank you for your patience.
imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Rush Limbaugh's loss negligible on Clear Channel's revenue

by L.A. Lorek & Paul J. Gough Thursday, Nov. 06, 2003 at 1:30 PM

Despite the Limbaugh controversy, Clear Channel announced a record third quarter on revenues of $2.54 billion. Limbaugh is expected to return on November 17 with his base of listeners, advertisers, and stations intact.


Clear Channel sets record with quarter
L.A. Lorek, Express-News, November 05, 2003
email: llorek@express-news.net

Syndicated radio host Rush Limbaugh's treatment for drug addiction hasn't hurt the bottom line of his employer, Clear Channel Communications. The San Antonio-based company retained 100 percent of its advertisers and its radio affiliates in the wake of Limbaugh's announcement he was addicted to prescription painkillers, said John Hogan, CEO of the company's radio division, during a conference call Tuesday. Limbaugh is expected to be back on the job within a week, said Mark Mays, Clear Channel's chief operating officer.

Despite the Limbaugh controversy and a less-than-stellar economic environment, Clear Channel announced a record third quarter. It posted net earnings of $636 million, or $1.03 per share, on revenues of $2.54 billion. The revenue is up 9 percent from the same quarter a year ago. The company's earnings included gains related to its investment in Univision Communications and its sale of an investment in American Tower Corp.

Radio revenues were flat, but Clear Channel's outdoor advertising rose 5 percent and the entertainment division jumped 14 percent in the quarter. Revenue at Clear Channel's radio division is expected to remain flat or be slightly down in the fourth quarter, Mays said.

Kit Spring, an analyst with Stifel Nicolaus & Co., said Clear Channel's third quarter earnings were in line with expectations and predicted the company might underperform the rest of the industry slightly in the fourth quarter. "I would look for Clear Channel to have a cyclical rebound next year," Spring said. "Hopefully job growth will start to impact local radio growth."

Spring rates the stock a buy. He doesn't own any shares and Stifel Nicolaus & Co. doesn't have an investment banking relationship with Clear Channel. "The cash flow the company continues to generate is compelling," Spring said.

For the nine months that ended Sept. 30, Clear Channel had $1.3 billion in cash flow. The company has been using that cash flow to pay down debt, said Randall Mays, Clear Channel's chief financial officer.

Mays said that in the third quarter, Clear Channel paid $650 million toward its debt, which now stands at $7.1 billion. The company continues to closely monitor its capital expenditures, he said, and will use its cash flow to make acquisitions, pay dividends, invest in its businesses and continue to pay down its debt. "We are very fortunate to have the problem of what to do with all this cash flow," Mays said.

Paying down debt is a very positive move for Clear Channel and its stock, said Paul Sweeney, analyst with Credit Suisse First Boston, which has had an investment banking relationship with the company. "In our opinion the consolidation of the radio and outdoor businesses is essentially behind Clear Channel," Sweeney said. "Their focus is twofold: integrate all the assets they have acquired to optimize their operation and reduce their debt."

For the fourth quarter, Sweeney said he expects a generally weak advertising environment again offset by Clear Channel's performance in the U.S. and international outdoor business and entertainment business. "Our expectations are that 2004 should be a very strong year for media companies," Sweeney said. "We think the improving economy combined with political and Olympic advertising should provide for strong growth."

See: http://news.mysanantonio.com/story.cfm?xla=saen&xlb=110&xlc=1079516


Rush Limbaugh Poised To Return To The Dial
Paul J. Gough, MediaPost, November 05, 2003
email: paul@mediapost.com

Rush Limbaugh will return to the radio airwaves Nov. 17, MediaDailyNews has learned. The move follows the conservative radio talk show host's well-publicized stay in a treatment center for substance abuse.

Limbaugh recently celebrated his 15th year in radio and is also the industry's biggest star, garnering top ratings for many of the 650 stations that run his three-hour afternoon talk show and boasting 20 million listeners every week. But in early October, the radio commentator suffered professional and personal reverses. First, he quit ESPN's "Sunday Night Football" after a controversial on-air stint where he took Philadelphia Eagles quarterback Donovan McNabb to task for his on-field performance. And then, as rumors circulated that Limbaugh was being investigated by authorities in Palm Beach County, Fla., in a drug probe, he told listeners that he was addicted to prescription pain medication. Limbaugh said he was going to check himself into a rehab hospital for treatment of drug addiction.

The talk show host's name came up Tuesday morning during a conference call discussing third-quarter earnings at Clear Channel Communications, the huge radio station owner that also owns the Premiere Radio Networks unit that produces Limbaugh's show. A Clear Channel executive said that Limbaugh should be out of the rehab hospital within seven to 10 days and that a full recovery is expected.

A Clear Channel spokeswoman told MediaDailyNews late Tuesday that Limbaugh would return to the airwaves on Nov. 17. Guest hosts have been filling in while Limbaugh was away.

John Hogan, chief executive officer of Clear Channel Radio, said there hasn't been much of a financial fallout since Limbaugh has been away. No stations have left the fold and no advertisers have dropped either, Hogan said.

"During his absence, we have maintained 100 percent of our affiliate base, and we have maintained our advertiser base," Hogan said. "This is an unfortunate turn of events for Rush, but our advertisers and our affiliate base have remained firmly behind him and we look forward to his return in the near future."

See: http://www.mediapost.com/dtls_dsp_news.cfm?newsID=224935
Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


Local News

Change Links September 2018 posted S02 10:22PM

More Scandals Rock Southern California Nuke Plant San Onofre A30 11:09PM

Site Outage Friday A30 3:49PM

Change Links August 2018 A14 1:56AM

Setback for Developer of SC Farm Land A12 11:09PM

More problems at Shutdown San Onofre Nuke J29 10:40PM

Change Links 2018 July posted J09 8:27PM

More Pix: "Families Belong Together," Pasadena J02 7:16PM

"Families Belong Together" March, Pasadena J02 7:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 11:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J11 6:58AM

Watch the Debate: Excluded Candidates for Governor of California M31 5:20AM

Change Links June 2018 posted M28 7:41AM

The Montrose Peace Vigil at 12 Years M22 8:01PM

Unity Archive Project M21 9:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 10:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 9:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 8:57PM

California police agencies violate Brown Act (open meetings) M02 8:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 11:47PM

Change Links May 2018 A27 8:40AM

Worker-Owned Car Wash on Vermont Closed A27 5:37AM

GUIDE TO REBEL CITY LOS ANGELES AVAILABLE A13 12:39AM

lausd whistle blower A11 6:58AM

More Local News...

Other/Breaking News

test O06 10:01AM

test O06 9:59AM

test O06 9:59AM

100 Ways GOP Have Stolen Elections Since 1876 O06 12:03AM

Proximospective de l'univocité réifiée O05 6:27AM

“Kava-no!!!” O04 6:42PM

Trump & Palestine vs. Genesis, Rashi & The Land of Israel O03 6:29PM

The Criminality of the Elites O03 11:35AM

Business de l'inhumanitaire O03 7:51AM

Marriage Rape/Date Rape Highest Rapes O02 2:59PM

Women I Know Get Raped - Too Many Times To Count! O02 2:55PM

Women In USA Have Stockholm Syndrom O02 2:50PM

Shooting Drill's Are Political Actual Shootings O02 2:47PM

Dr. Ford's Father Works With CIA O02 2:44PM

Weaponizing Frequencies O02 2:41PM

Google Abuses: Worldwide Spying, Censorship, War Promotion, Spying On Children, Etc O02 11:08AM

Paraphysique de l'administration O02 8:34AM

Paraphysique O02 8:31AM

Affordable Rents? A State of Emergency Intensifies O01 11:36AM

A Few Of Many Impeachable Acts by Trump Sessions And Others O01 4:41AM

Désengrammation, l'éloge de la suite S30 7:01AM

someone Should Work In Hollywood - Good Acting! S28 2:55PM

Ford Gives Psych Drugs To Lower Class To Shut Them Up? S28 2:51PM

Hilllary Calls Ford Trailer Trash? S28 2:47PM

Most Rapes Are In Marriages S28 2:43PM

Nice Boys Dirty Deeds S28 2:41PM

Minnesota 2nd Largest Rape State S28 2:39PM

Paraphysique de la plus-value S28 7:18AM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy