11-7-2012
The normally colorful Ed Christian didn't disappoint yesterday as he went to his Executive Vice President Warren Lada's toy instant excuse 8-ball after revealing to investors and analysts that Saga had a less then stellar quarter. Christian was trying to "lighten" the mood after presenting his company's seriously flat revenue numbers for July, August and September. His top three excuses for not performing for the quarter were: "My fish died, we had car trouble, and we were all on jury duty." National was down significantly for Saga and political did not deliver the revenue numbers Saga projected. Christian said, "I'm not trying to make light of this. It was very trying and I just don't know why."
It has not been a lucrative quarter for many radio companies so far this year. Television, digital, even SiriusXM seem to be getting more of a revenue bounce this year. Earlier this week, Cumulus reported a revenue decline in Q3 and blamed it on 10 stations. Both Entercom and Clear Channel reported tiny increases, for the quarter, over last year. Radio One was up 5.3% and Entravision was up 6%.
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