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Radio revenues down 2% at Spanish Broadcasting System
The SBS TV division revenues gained 10%, but that operation is still much smaller than the radio division the company was founded on. For second quarter, SBS radio revenues dipped from $31.8 million to $31.2 million. Operating income remained level at $17 million. Radio engineering and programming expenses shrank from $5.7 million to $5.3 million. National ad business was up in New York, Chicago and Puerto Rico. But CEO Raul Alarcon says a decrease in local sales "occurred in all our markets, with the exception of New York." That cluster includes Spanish contemporary "La Mega" WSKQ (97.9). One positive: there was no need to record any impairment charges on the market value of radio broadcast licenses. On the TV side, revenues improved from $4 million to $4.4 million, mostly due to national spot sales and paid programming.
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