The late 1990s saw a period of rapid and unprecedented consolidation among radio stations. By 2000, consolidation had begun to slow, but its impact was being felt like never before. "The overall economy was booming, and the impact of consolidation was continuing," says Mark Fratrik, vice president, BIA Financial. "It led to radio being a stronger industry and a more formidable competitor in the advertising marketplace."
The total revenues of the top 25 radio groups topped $10.2 billion in 2000, 57% of the $17.62 billion total radio revenue, according to BIA Financial Network, a Virginia-based broadcast investment firm. Last year, they accounted for $9.16 billion, also 57% of the total.
Once again, it was Clear Channel, with its 1,202 stations, leading the way, with $3.5 billion in revenue, up approximately 10% over 1999's $3.1 billion.
The top 25 groups control 2,710 stations, 24.3% of the 11,115 commercial radio stations, a 1% gain over 1999.
According to Fratrik, fourth quarter 2000 saw the beginning of a downturn that has continued through the current quarter. He is cautiously optimistic that the fourth quarter will show some bounce, but, for the time being, the strength of consolidation may be one of safety in numbers.
1. Clear Channel
(NYSE: CCU)
Total rev.:
$3.5 billion
Number of stations:
1,202
Total markets:
189
200 E. Basse Rd.
San Antonio, TX 78209
Phone:
210-822-2828
L. Lowry Mays, chairman/CEO
2. Infinity
(Controlled by Viacom)
Total revenues:
$2.35 billion
Number of stations:
183
Total markets:
41
40 W. 57th St.
New York, NY 10019
Phone:
212-314-9200
Daniel R. Mason, president
3. Cox Radio
(NYSE: CXR)
Total rev.:
$455 million
Number of stations:
82
Total markets:
18
1400 Lake Hearn Dr. NE
Atlanta, GA 30319
Phone:
404-843-5000
Bob Neil, president and CEO
4. ABC Radio
(Subsidiary of Disney)
Total rev.:
$436 million
Number of stations:
55
Total markets:
27
13725 Montfort Dr.
Dallas, TX 75240
Phone:
972-991-9200
John Hare, president, ABC Radio; Robert F. Callahan, president, ABC Broadcast Group
5. Entercom
(NYSE: ETM)
Total rev.:
$415 million
Number of stations:
95
Total markets:
18
401 City Ave., Suite 409
Bala Cynwyd, PA 19004
Phone:
610-660-5610
David J. Field, president/COO
6. Citadel Communications
(Nasdaq: CITC)
Total rev.:
$349 million
Number of stations:
206
Total markets:
40
7201 W. Lake Mead Blvd., Suite 400
Las Vegas, NV 89128
Phone:
702-804-5200
Lawrence R. Wilson, founder/chairman/president/CEO; Bob Proffitt, COO
7. Radio One
(Nasdaq: ROIA)
Total rev.:
$301 million
Number of stations:
63
Total markets:
22
5900 Princess Garden Parkway
Lanham, MD 20706
(301) 306-1111
Catherine L. Hughes, chair; Alfred C. Liggins III, president
8. Emmis Communications
(Nasdaq: EMMS)
Total rev.:
$295 million
Number of stations:
23
Total markets:
8
40 Monument Circle, Suite 700
Indianapolis, IN 46204
Phone:
317-266-0100
Jeffrey H. Smulyan, chairman
Doyle L. Rose, president, Radio Division
9. Hispanic Broadcasting
(About 29% owned by Clear Channel, not traded)
Total rev.:
$254 million
Number of stations:
48
Total markets:
13
3102 Oak Lawn Ave., Suite 215
Dallas, TX 75219
Phone:
214-525-7700
McHenry T. Tichenor Jr., chairman/president; David D. Lykes, COO
10 Susquehanna Radio
(Private)
Total rev.:
$235 million
Number of stations:
32
Total markets:
9
140 E. Market St.
York, PA 17401
Phone:
717-852-2132
Louis J. Appell Jr., chairman; David Kennedy, president
11. Cumulus Media
(Nasdaq: CMLS)
Total revenues:
$228 million
Number of stations:
227
Total markets:
43
3060 Peachtree Rd. NW, Suite 730
Atlanta, GA 30305
Phone:
404-949-0700
Lew Dickey, chairman and CEO
12. Bonneville Intl.
(The Church of Jesus Christ of the Latter-day Saints, owner, private)
Total rev.:
$203 million
Number of stations:
20
Total markets:
6
P.O. Box 1160, Broadcast House
Salt Lake City, UT 84110
Phone:
801-575-7500
Bruce T. Reese, president/chief executive officer
13. Greater Media
(Private)
Total rev.:
$170 million
Number of stations:
18
Total markets:
6
2 Kennedy Blvd.
East Brunswick, NJ 08816
Phone:
732-247-6161
John Bordes, chairman; Peter Smyth, group vice president/COO
14. Spanish Broadcasting
(Nasdaq: SDSA)
Total rev.:
$149 million
Number of stations:
24
Total markets:
8
3191 Coral Way
Miami, FL 33145
Phone:
305-441-6901
Raul Alarcon Jr., chairman/president/CEO
15. Jefferson-Pilot
(NYSE: JP)
Total rev.:
$142 million
Number of stations:
17
Total markets:
5
100 N. Greene St.
Greensboro, NC 27420
Phone:
336-691-3000
Theresa M. Stone, president, Jefferson-Pilot Communications
16. Beasley Broadcast
(Nasdaq: BBGI)
Total rev.:
$130 million
Number of stations:
45
Total markets:
11
3033 Riviera Dr., Suite 200
Naples, FL 34103
Phone:
(941) 263-5000
George G. Beasley, president; Bruce Beasley, president, Radio Group
17. Salem Communications
(Nasdaq: SALM)
Total rev.:
$110 million
Number of stations:
81
Total markets:
37
4880 Santa Rosa Rd. Ste. 300
Camarillo, CA 93012
Phone:
805-987-0400
Edward G. Atsinger III, president/CEO
18. Saga Communications
(Amex: SGA)
Total revenues:
$99 million
Number of stations:
56
Total markets:
11
73 Kercheval Ave.
Grosse Point Farms, MI 48236
Phone:
(313) 886-7070
Edward K. Christian, chairman/president
19. Journal Broadcast
(Private)
Total rev.:
$77 million
Number of stations:
36
Total markets:
8
720 E. Capital Dr.
Milwaukee, WI 53212
Phone:
414-332-9611
Carl Gardner, president, radio
20. Entravision
(NYSE: EVC)
Total rev.:
$70.6 million
Number of stations:
55
Total markets:
24
2425 Olympic Blvd., Suite 6000W
Santa Monica, CA 90404
Phone:
310-447-3870
Walter F. Ulloa, chairman; Jeffrey A. Liberman, president, Radio Division
21. Sandusky Radio
(Private)
Total revenues:
$64 million
Number of stations:
10
Total markets:
2
515 Park Ave., 4A
New York, 10022
Phone:
212-355-3074
Norman Rau, president
22. Inner City Broadcasting
(Private)
Total rev.:
$63 million
Number of stations:
17
Total markets:
8
3 Park Ave.
New York, NY 10016
Phone:
212-447-1000
Pierre Sutton, chairman; Charles Warfield, president/COO
23. Tribune Broadcasting
(NYSR: TRB)
Total rev.:
$62 million
Number of stations:
4
Total markets:
2
435 N. Michigan Ave.
Chicago, IL 60611
Phone:
312-222-3333
Stephen D. Carver, vice president, Radio Group, Tribune Broadcasting/vice president and general manager, WGN(AM)
24. Regent Communications
(Nasdaq: RGCI)
Total rev.:
$58 million
Number of stations:
54
Total markets:
12
50 E. Rivercenter Blvd., Suite 180,
Covington, KY 41011
Phone:
859-292-0030
William Stakelin, president/COO
25. NextMedia Group
(Private)
Total rev.:
$54 million
Number of stations:
57
Total markets:
11
6312 S Fiddler's Green Cir #360 E
Englewood, CO 80111
Phone:
303-694-9118
Skip Weller, president/co-COO
*=
Total AM and FM stations in a given market
