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Posted on: March 13th, 2007
Filed Under: [ Hispanic News ] [ Media ] [ Press Releases ]
“Spanish Broadcasting System, Inc. the “Company” or “SBS” today reported financial results for the quarter- and fiscal year ended December 31, 2006.
Results and Discussions
For the quarter ended December 31, 2006, Consolidated Net Revenue totaled $44.4 million compared to $46.9 million for the same prior year period, resulting in a decrease of 5%. Radio net revenue was $42.7 million compared to $46.9 million for the same prior year period, resulting in a decrease of 9%, primarily from promotional events, and, to a lesser extent, local and national revenues, and other revenues related to the Local Marketing Agreement LMA fees received for the previously sold Los Angeles stations KZAB-FM and KZBA-FM. This radio net revenue decrease was primarily in our Los Angeles, New York, and Miami markets. In addition, our new television”
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