Advertising came to a screeching halt in fourth quarter driving Clear Channel Media Holdings down 14 percent to $1.6 billion, the radio and outdoor operator reported Monday (March 2).
For the year, CC posted a $4 billion loss in part to a $5.2 billion impairment charge. Revenue declined 3 percent to $6.7 billion.
Radio revenue dropped 13 percent in fourth quarter to $788.8 million. About 43 percent of the division’s decline occurred during the fourth quarter, sending full year revenue down 7 percent to $3.3
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