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In its first earnings report since going private in July, Clear Channel Media Holdings, the parent company of Clear Channel Communications, reported a revenue dip of 4 percent to $1.7 billion in third quarter. The radio business suffered the steepest decline, down 7 percent to $843.9 million. As it has all year, Clear Channel Outdoor fared better, down 0.5 percent to $813.4 million.
The decline in outdoor was due primarily to a soft national business, and to a lesser extent, the local business, in the Americas, compared to international and digital businesses, which remained relatively strong.
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