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PREMIERE RADIO NETWORKS INC. ANNOUNCES THIRD QUARTER RESULTS

 SHERMAN OAKS, Calif., Nov. 12 /PRNewswire/ -- Premiere Radio Networks Inc. (NASDAQ: PRNI) today reported revenues of $3,028,346 for the three months ended Sept. 30, 1993, as compared to revenues of $3,150,781 for the same period in 1992, a decrease of 3.9 percent. Net income for the three months ended Sept. 30, 1993, was $25,249, or approximately $0.01 per share as compared to net income of $421,214, or $0.14 per share for the same period in 1992.
 Revenues for the nine months ended Sept. 30, 1993, were $7,577,470, as compared to $7,681,003 for the same period in 1992, a decease of 1.3 percent. Net loss for the nine months ended Sept. 30, 1993, was $300,594, or $0.10 per share as compared to a net income of $973,941, or $0.38 per share for the same period in 1992.
 Steve Lehman, chief executive officer of the company, stated, "The expected decrease in net income was substantially due to the expenses incurred in the start-up of the company's first radio station, KZDG-FM in Denver, Colo. We are pleased, however, that since its inception in January 1993 the station's ratings have steadily increased from a 0.5 to a 3.0 share in the latest quarterly Arbitron ratings."
 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 and has over 1,500 radio affiliates under contract to distribute programming. 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 Sherman Oaks.
 -0- 11/12/93
 /CONTACT: Harold Wrobel of Premiere Radio Networks, 818-377-5300; or Anne Doremus of Catalyst Communications, 510-838-7127, for Premiere Radio Networks/
 (PRNI)


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

LW-TM -- SF005 -- 3525 11/12/93 08:32 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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