TV revenues looked much worse, percentage-wise – down 27% from the year before. But they’re a much smaller part of the Miami-based SBS, accounting for $4.3 million in revenue in the fourth quarter of 2009. While radio was about $31.6 million, down from $35 million. Operating income from both divisions was better: Radio’s improved from $12.6 million to $13.8 million and the operating loss for TV dropped from $5.6 million to $825,000. Looking just at radio, the company says local revenue trended down in all its markets. Like many other radio operators, Spanish Broadcasting System conducted an impairment test on the carrying values of its FCC licenses, and took a non-cash write-down of $8.5 million in the fourth quarter. The company remains listed on the NASDAQ, thanks to a reprieve granted following a special meeting with the exchange on January 7. It has until June 7 to get the stock price for “SBSA” back above $1 a share. It closed unchanged at 80 cents today (3/10), before the market saw the quarterly and full-year results. Study the Spanish Broadcasting System report.