SBS revenues down in Chicago

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Posted by chicagomedia.org on August 07, 2008 at 09:33:41:

SBS Revenues Down For Q2

SPANISH BROADCASTING SYSTEM, INC. TODAY reported financial results for the three- and six-month periods ended JUNE 30, 2008.

For the quarter ended JUNE 30, 2008, consolidated net revenue totaled $45.2 million compared to $47.9 million for the same prior year period, resulting in a decrease of $2.7 million or 6%. This consolidated decrease was mainly attributable to SBS's radio segment which had a net revenue decrease of $4.3 million or 9%, offset by an increase in the television segment net revenue of $1.6 million or 60%.

SBS's radio segment had a decrease in net revenue primarily due to lower local and national sales. The decrease in local sales occurred primarily in their MIAMI, LOS ANGELES, CHICAGO and NEW YORK markets, offset by an increase in PUERTO RICO.

Operating (loss) income totaled $(389.3) million compared to $11.1 million for the same prior year period. The decrease was primarily related to the impairment of FCC broadcasting licenses.

(AA)

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: SBS Revenues Down For Q2 : SPANISH BROADCASTING SYSTEM, INC. TODAY reported financial results for the three- and six-month periods ended JUNE 30, 2008. : For the quarter ended JUNE 30, 2008, consolidated net revenue totaled $45.2 million compared to $47.9 million for the same prior year period, resulting in a decrease of $2.7 million or 6%. This consolidated decrease was mainly attributable to SBS's radio segment which had a net revenue decrease of $4.3 million or 9%, offset by an increase in the television segment net revenue of $1.6 million or 60%. : SBS's radio segment had a decrease in net revenue primarily due to lower local and national sales. The decrease in local sales occurred primarily in their MIAMI, LOS ANGELES, CHICAGO and NEW YORK markets, offset by an increase in PUERTO RICO. : Operating (loss) income totaled $(389.3) million compared to $11.1 million for the same prior year period. The decrease was primarily related to the impairment of FCC broadcasting licenses. : : (AA)

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