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PREMIERE RADIO NETWORKS ANNOUNCES MOST PROFITABLE YEAR EVER -- UP 32.6 PERCENT

ended Dec. 31, 1992, an increase of 32.6 percent, versus $878,002 for the same period in 1991. Revenues of $10,109,728 were reported for the year ended Dec. 31, 1992, as compared to revenues of $9,592,941, for the same period in 1991, an increase of 5.4 percent. Management maintained earnings at 44 cents per share, despite the increase in shares outstanding from 2 to 3 million, with a weighted average number of shares at 2,674,863.
 Chief Executive Officer Steve Lehman commented that, "The company had its most profitable year ever, continuing the upward performance trend since Premiere's inception." The company also initiated a program to expand into the $400-million wired network radio market.
 Premiere Radio Networks Inc. is a leading independent creator, producer and distributor of innovative comedy, entertainment and music-related radio programs that reach 98 percent of U.S. households. The company, founded in 1987, produces 14 syndicated programs. Premiere has over 1,500 affiliates nationwide. These programs are distributed free of charge in exchange for commercial air time during broadcasts. In 1991, the company formed the Premiere Marketing Promotion division, which develops customized promotional campaigns designed to increase sales and distribution. The company is headquartered in Los Angeles.
 -0- 3/22/93
 /CONTACT: Anne Doremus of Catalyst Communications, 510-838-7127, for Premiere Radio Networks; or Harold Wrobel of Premiere Radio Networks, 818-377-5300/
 (PRNI)


CO: Premiere Radio Networks Inc. ST: California IN: SU: ERN

BR-GT -- SF002 -- 8078 03/22/93 09:06 EST
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Publication:PR Newswire
Date:Mar 22, 1993
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