Local revenue was down everywhere except in Chicago and national was down universally. CEO Raul Alarcon’s expansion into the television business several years ago spooked investors at the time, but Mega TV revenues, though small compared to radio, grew 6% in the latest quarter. For comparison purposes: SBS Radio revenue fell from $33 million to $24.1 million. The TV division increased from $3.4 million to $3.6 million. SBS posted an operating loss of $9.7 million – mostly driven by another writedown in the value of station licenses. SBS estimates a $10.1 million drop in the market value of its assets in Chicago and San Francisco. Read over the latest quarterly report from SBS here.