INTEREP REPORTS LIGHTER RADIO AD SALES LOSSES

Execs Cite Improving Advertising Market

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NEW YORK (AdAge.com) -- Interep National Radio Sales reported improved results for the third quarter, crediting an upswing in the advertising market and reduced losses in its Internet operations.

The independent national spot radio rep firm reported a net loss of $3 million for the third quarter, an improvement over the $5.5 million net loss in the same period last year. Revenue for the quarter was $22.2 million, down 0.5% from the year-ago period, but commission revenue rose 2.5% to $22.1 million.

The radio advertising

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marketplace showed improvement in the third quarter and sales are pacing up strongly in the fourth compared to the same period last year, said Chairman-CEO Ralph Guild. He said that although he recognized gains are affected by favorable comparisons to the post-Sept. 11 period in 2001, management expects commission revenue to rise in double-digit percentages in the fourth quarter.

Advertisers appear to be planning ahead, and Interep's salespeople have noticed clients are willing to commit ad dollars for next year, Mr. Guild said. That is in sharp contrast with marketers' actions a year ago, when all planning ground to a halt in the aftermath of the Sept. 11 attacks, he said.

"Although still cautious, the dire mood among advertisers appears to have lifted," Mr. Guild said.

Interep, an independent national spot radio rep firm, is the exclusive sales arm for more than 2,000 radio stations nationwide, including radio stations owned by seven of the 10 largest radio groups by revenue.

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