Westwood One a 2nd quarter loser; takes $4.1 million bath.Westwood One a 2nd quarter loser; takes $4.1 million bath Losses grew at Los Angeles-based radio programmer Westwood One Inc. during the second quarter of 1991. The company reported a loss of $4.1 million or 27 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. for the three months ended May 31, compared with a loss of $3.8 million or 26 cents per share in the same quarter last year. Revenues for the quarter were $36.4 million, off 3 percent from last year, when revenues were $37.4 million in the same quarter. The company attributed the higher loss to a $1.4 million write-down in the book value of a real estate parcel. Westwood One, the parent company of the Mutual Broadcasting System The Mutual Broadcasting System (MBS) was an American radio network, in operation from 1934 to 1999. Of the four national networks of American radio's classic era, Mutual had for decades the largest number of affiliates but the least certain financial position. and the NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. Radio Network, owns and operates radio stations in Los Angeles <noinclude> List of radio stations in the Los Angeles/Orange County market (Arbitron #2): </noinclude><includeonly></includeonly> |KABC |AM 790 | |Los Angeles |ABC Radio |talk |KALI |AM 900 | |West Covina | | |KAZN |AM 1300 | and New York and owns the industry trade publication Radio & Records. |
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