Citadel reported its numbers and here's Tom Taylor's take, which references Atlanta in a negative fashion.
Citadel revenues fell 5%, weighed down by San Francisco, Atlanta and New York.
CEO Farid Suleman says at least one very large Citadel market did better than last year's Q2. That was Chicago. But generally, it was the medium and smaller markets that posted better numbers, and the large markets – many of them the former ABC properties – that were a drag. Suleman says “San Francisco, Atlanta and New York accounted for the bulk of the decline in the radio station” division. Topline revenue there dropped from $164.5 million to $157.7 million. Another drag was the ending of a talk-station LMA with Johnny Pirkle in Knoxville. Operating income at what Citadel calls the “radio markets” division dropped from $72.1 million to $65.5 million. Over at Citadel Media, revenues fell from $31.2 million to $28.5 million. There were lower revenues from sales representation and from the “Hispanic and news-related networks.” Suleman says the recent reconfiguration of sales networks "is finally having a positive effect” and that “the network business is pacing ahead for the first time this year, for third quarter.”
Citadel revenues fell 5%, weighed down by San Francisco, Atlanta and New York.
CEO Farid Suleman says at least one very large Citadel market did better than last year's Q2. That was Chicago. But generally, it was the medium and smaller markets that posted better numbers, and the large markets – many of them the former ABC properties – that were a drag. Suleman says “San Francisco, Atlanta and New York accounted for the bulk of the decline in the radio station” division. Topline revenue there dropped from $164.5 million to $157.7 million. Another drag was the ending of a talk-station LMA with Johnny Pirkle in Knoxville. Operating income at what Citadel calls the “radio markets” division dropped from $72.1 million to $65.5 million. Over at Citadel Media, revenues fell from $31.2 million to $28.5 million. There were lower revenues from sales representation and from the “Hispanic and news-related networks.” Suleman says the recent reconfiguration of sales networks "is finally having a positive effect” and that “the network business is pacing ahead for the first time this year, for third quarter.”