Radio net revenue for the 8 Fisher radio stations dropped to $5.3million for the third quarter of 2011. Cash flow also dropped from $1.5 million to $494,000 and the cash flow margin for the company was down from 32% to 28%. Fisher says the reason for the big drop was the 2011 results do not include the KING-FM Seattle joint sales agreement which did show results in 2010. That JSA was not renewed in 2011.
