Clear Channel saw a 7% jump in Q3 revenue thanks to the recently purchased Westwood One traffic division. When you back out Westwood One, revenue was up 2% for the quarter. National revenue was also up, so when you read between the lines, it sounds like local advertising was either flat or down for the quarter. Of the $55 million revenue increase in the radio division, $41 million came from the traffic division and $13 million from national.
The national revenue increase was lead by restaurants, automotive, utilities, financial services and healthcare. The company also reported the 4th quarter looks flat compared to 2010, "bookings for the 4th quarter are challenged and visibility is limited."
