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Westwood One was as upbeat as the radio network could be given the dismal economic conditions that plague all traditional media, as well as the company’s ongoing struggle to turn around its financial performance. Third quarter net revenue dropped 10.9 percent to $96.3 million. Local and regional revenue plummeted 16.6 percent due to reduced spending in the automotive, banking, financial services and real estate categories. Soft advertising demand led to a decline of 4.3 percent in national revenue.
The results reported Monday (Nov.
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