Westwood One reported that its Q4 revenues were down 8.7% to $92.3 million. That was, however, better than than the other threee quarters of 2009.
The company said the lower percentage decrease in revenues “reflects a cautious return to advertiser spending in the face of continued uncertainty in the fourth quarter market place.” In his conference call with analysts, CEO Rod Sherwood indicated that Q1 is better, with pacings ahead of year-ago levels.
For Q4 of 2009 network radio revenues were down 5.3% for WW1 to $52.1 million. Metro Traffic revenue was down 12.6% to $40.3, which the company said reflected continued weakness in the local advertising marketplace.
Adjusted EBITDA was up 5.2% to $6.1 million, which reflected the impact of cost-cutting, despite reduced revenues.