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Bigger than ever

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

www.clearchannel.com

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

www.infinityradio.com

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

www.coxradio.com

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

www.abcradio.com

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

www.entercom.com

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

www.citadelcommunications.com

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

www.emmis.com

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

www.hispanicbroadcasting.com

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

www.suspfz.com

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

www.cumulusmedia.com

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

www.bonnint.com

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

www.greatermedia.com

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

www.jpc.com

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

www.bbgi.com

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

www.sagacommunications.com

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

www.journalbroadcastgroup.com

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

www.entravision.com

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

www.tribune.com

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

www.regentcomm.com

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