The 10% decline in top line revenues exactly matches the industry average, as reported by the Radio Advertising Bureau for last October through December. Clear Channel also reports declines at its “Americas Outdoor” division of 1% and its International Outdoor division of 5%. The company’s fierce cost-cutting shows up in a 20% drop in operating expenses at the radio unit, and a 20% gain in what Clear Channel has always reported as OIBDAN. That’s Operating Income Before Depreciation and Amortization. Study the Clear Channel Media Q4 and full-year report here.