Cox Radio’s Q1 performance was worse than expected, Wachovia anal...
Cox Radio’s Q1 performance was worse than expected, Wachovia analyst Marci Ryvicker wrote investors. Cox Enterprises provided the update as part of its bid to buy out Cox Radio’s shareholders. Sales fell 23 percent from a year earlier to…
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$75.5 million. Earlier this week, Emmis reported similarly weaker-than-expected preliminary results for its fiscal Q4, with domestic radio sales down 23 percent and revenue in April and May shaping up even worse. “This data is incrementally negative and leads us to believe that the local ad environment continues to deteriorate,” Ryvicker wrote.