Regent Communications is in Chapter 11 reorganization, so normally talkative CEO Bill Stakelin isn’t doing a quarterly conference call. Those companies which did conduct conference calls recently indicated that big markets were rebounding more quickly than small ones, so it is not surprising that Regent, a small market group, reports that Q4 revenues were down just over 10%.
Regent’s revenues were down 10.1% to $21.3 million. Station operating income (SOI) declined 17.8% to $8.9 million, resulting from the revenue decline, but tempered by a 5.5% reduction in costs. On a same station basis, revenue was down 10.3% and SOI was off 17.3%.
For all of 2009 net revenues declined 12.7% to $84.1 million. SOI was down 23.2% to $26.9 million.
See RBR-TVBR’s past stories on the Regent bankruptcy proceeding.