For the first five months of the year, total revenues were down 7%, compared with the same period in 2000, and national and local dropped 20% and 3%, respectively.
In a report released today, Lehman Brothers analyst William Meyers revised his full-year 2001 radio outlook to 1% to 2% growth, down from the 2% to 2.5% growth he had previously forecast. He maintained growth predictions of 7% to 8% for 2002.
Radio's downslide -- and anticipated second-half recovery -- is not only the result of current economic conditions but also tough comparisons created by extreme growth in the first two quarters of last year. -- Cara Beardi
Copyright May 2001, Crain Communications Inc.
