Here's the link: http://coxradio.com/common/pdf/coxradio/CXR_4th_Qtr_2005-FINAL.pdf
It notes that cost of services fell 6.8% systemwide, primarily because of dropping the Hawks and Braves. Net revenues for the year from the Braves in 2004 was $12 million--that income was gone in 2005, causing the overall Cox Radio income for the year to drop 0.1%. Not counting the Braves, income was up 2.7%. The cost of services for the year related to the Braves was $13.2 million in 2004. That indicates Cox lost money on the Braves in 2004.
Growth in Miami, Tampa and San Antonio in 2005 were offset by losses in Atlanta, Richmond, Birmingham and Louisville. In Atlanta, revenues fell 6.7%, citing the loss of the Braves.
Operating income in the fourth quarter dropped sharply, partly because they had to reduce goodwill in the Birmingham market. (official accounting term: non-cash goodwill impairment charge. Sounds painful, doesn't it?)
It notes that cost of services fell 6.8% systemwide, primarily because of dropping the Hawks and Braves. Net revenues for the year from the Braves in 2004 was $12 million--that income was gone in 2005, causing the overall Cox Radio income for the year to drop 0.1%. Not counting the Braves, income was up 2.7%. The cost of services for the year related to the Braves was $13.2 million in 2004. That indicates Cox lost money on the Braves in 2004.
Growth in Miami, Tampa and San Antonio in 2005 were offset by losses in Atlanta, Richmond, Birmingham and Louisville. In Atlanta, revenues fell 6.7%, citing the loss of the Braves.
Operating income in the fourth quarter dropped sharply, partly because they had to reduce goodwill in the Birmingham market. (official accounting term: non-cash goodwill impairment charge. Sounds painful, doesn't it?)