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JACOR ANNOUNCES FINANCIAL RESULTS FOR FIRST QUARTER ENDED MARCH 31, 1992

 JACOR ANNOUNCES FINANCIAL RESULTS
 FOR FIRST QUARTER ENDED MARCH 31, 1992
 CINCINNATI, May 19 /PRNewswire/ -- Jacor Communications, Inc. (NASDAQ: JCORC) today reported its financial results for the first quarter ended March 31, 1992.
 For the three months ended March 31, 1992, the company had broadcast revenue of $14,703,458, an increase of $118,191 over the $14,585,267 for the first quarter of 1991. This increase was the result of advertising revenue related to post-season play of the Denver Broncos and to the addition of Atlanta Braves baseball broadcasts, as the company experienced a 3 percent decline in local and national spot advertising. The company incurred increased sports rights fees related to these sports broadcasts and also increased expenditures for promotion of the company's stations during the first quarter of 1992. These costs led to an increase of $975,565 in broadcast operating expenses over the first quarter of 1991. The company experienced as a result an operating loss for the first quarter of 1992 of $1,560,187, compared to a loss of $901,333 for the first quarter of 1991.
 Comparability of net income and loss for both 1991 and 1992 first quarter periods is affected by certain non-recurring events. The sale of radio stations WMJI and WYHY in January 1991, resulted in a gain net of income taxes aggregating $11,933,527, making it possible for the company to report net income of $6,941,264 for the 1991 period, as compared to a net loss of $11,728,279 for the 1992 period. The 1992 three-month period, however, includes a charge against income of $7,082,263 resulting from the early termination of an interest rate protection agreement. Net loss per common share for the first quarter was $(1.28) per common share compared to a net income of $.66 per common share for the same period in 1991.
 Terry S. Jacobs, chairman, president and chief executive officer of Jacor, stated "The company made a conscious decision to increase spending to promote our stations during the winter 1992 Aribitron ratings period. The Arbitron ratings for this period were recently released. Overall, our ratings performance was very good. The company's AM station in Tampa and AM and FM stations in Atlanta made significant gains in market position, while our AM stations in Denver and Cincinnati and FM station in Jacksonville remain the top-ranked stations in their market."
 According to Jacobs, "The softness in local and national advertising continued during the first quarter as the economy still struggles through the current recession. We are hopeful the results of the winter Arbitron ratings will convert into increased advertising dollars for our stations. Much of the results, however, will depend on the state of the economy and the growth of broadcast advertising revenue in each of our markets, and we still do not see much recovery yet in those areas."
 Jacor Communications, Inc., headquartered in Cincinnati, currently owns 11 radio stations, a cable television system, and the Georgia Network. The company's stations are located in Atlanta, Cincinnati, Denver, Jacksonville, Knoxville, and Tampa.
 JACOR COMMUNICATIONS, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS
 For the three months ended March 31, 1992 and 1991
 1992 1991
 Broadcast revenue $14,703,458 $14,585,267
 Less agency commissions 1,575,675 1,630,502
 Net revenue 13,127,783 12,954,765
 Broadcast operating expenses 12,233,101 11,257,536
 Depreciation and amortization 1,663,011 1,844,890
 Corporate general and administrative
 expenses 791,858 753,672
 Operating loss (1,560,187) (901,333)
 Interest expense (3,196,823) (4,013,456)
 Interest rate protection agreement
 termination expense (7,082,263) ---
 Gain on sale of radio stations --- 13,013,527
 Other income (expense), net 110,994 (77,474)
 Income (loss) before
 income taxes (11,728,279) 8,021,264
 Income Taxes --- 1,080,000
 Net income (loss) (11,728,279) 6,941,264
 Preferred stock dividend (131,511) ---
 Change in redemption value of
 redeemable common stock warrants 376,138 ---
 Income (loss) applicable
 to common shares $(11,483,652) $ 6,941,264
 Net income (loss) per
 common share $(1.28) $ .66
 Number of common shares used
 in per share computations 9,004,093 10,585,155
 -0- 5/19/92
 /CONTACT: R. Christopher Weber of Jacor Communications, Inc., 513-621-1300./
 (JCOR) CO: Jacor Communications, Inc. ST: Ohio IN: ENT SU: ERN


BM -- CL018 -- 2016 05/19/92 16:27 EDT
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Date:May 19, 1992
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