Spanish Broadcasting System actually pulled in a little more money on the TV side of its operation, but that side of the business is small enough that a $200K spike in net revenue translated to a +6% gain. The radio side, on the other hand, declined -27% on an $8.8M loss. Overall, the company was down -24%, falling from $36.4M to $27.8M. CEO Raúl Alarcón Jr. said, “We made considerable progress in reducing our costs during the quarter, significantly offsetting the impact of the global economic recession and bleak U.S. advertising market.” He was happy to report that radio audience share remained strong.
