Dow
     -89.23
12801.23
-0.69%
 |
S&P 500
     -9.31
1342.64
-0.69%
 |
Wil 5K
     -108.90
14000.51
-0.77%
 |
Nasdaq
     -23.35
2903.88
-0.80%
 |
EAFE
     -1.03
53.27
-1.90%
 |
OPEC Oil
     +1.09
116.27
+0.95%
 |
10Y Yield
     +0.01
2.01
+0.42%
May 12, 2009 3:25 PM

Clear Channel Sales Down 25%; It's Faring the Worst of the Billboard Companies

By
Jim Edwards
(MoneyWatch)  Clear Channel Outdoor lost $91 million in Q1 2009, the company reported, on revenue of $582 million, down 25 percent from $776 million.

Clear Channel is doing the worst compared to Lamar Advertising and CBS Outdoor, who round out the three big billboard providers. Dow Jones:
CBS Corp. (CBS) said its billboard revenue fell 24%. Lamar Advertising Co. (LAMR), which also reported results last week, only saw revenue decline 12%, but its forecast indicated a further drop-off in the second quarter.
Like Lamar, Clear Channel is in the midst of a swingeing cost-cutting program.

The results actually pushed up stock of Lamar and CBS, as Clear Channel's declined on the news. --

MoneyWatch Poll: How Has the Financial Crisis Affected You?

© 2009 CBS Interactive Inc.. All Rights Reserved.
.
Scroll Left
Scroll Right More »
CBS News on Facebook
  • Building You a Better Morning

  • CBS This Morning

    "CBS This Morning," anchored by Charlie Rose, Gayle King and Erica Hill, airs weekdays from 7 to 9 a.m. ET and at the same time in other time zones.
    Learn more...