Despite quarterly net losses, CC Media Holdings Inc., owner of Clear Channel Communications Inc., experienced third quarter revenue growth in several lines of business.
San Antonio-based CC Media (OTCBB: CCMO) reported a net loss of $74 million on revenues of $1.58 billion in the third quarter. However, outdoor advertising revenue rose 4 percent to $347.3 million in the third quarter. Displaying more favorable gains was international outdoor advertising, which increased 11 percent to $401.1 million in the recent quarter.
Clear Channel Outdoor (NYSE: CCO), an indirect subsidiary of CC Media, is one of the world’s largest outdoor advertising companies and the ninth- largest public company in Arizona.