CC Media Holdings, Inc. Reports Second Quarter
2010 Results
Revenues Increase 4%
OIBDAN Increases 14%
August 09, 2010 04:03 PM Eastern Daylight Time
SAN ANTONIO--(EON: Enhanced Online News)--CC Media Holdings, Inc. (OTCBB: CCMO) today reported
results for its second quarter ended June 30, 2010.
Second Quarter 2010 Results
"Our second quarter results reflect the positive impact of the global advertising market recovery combined with the
ongoing execution of our strategic plan to maximize our performance and improve profitability across our
operations,” said Mark Mays, President and CEO of CC Media Holdings. “During the quarter, we saw
improvement in both revenue and profit margins across our radio and outdoor platforms. The fundamentals of our
business are clearly improving, as we return to revenue growth and attain the benefits of our cost reduction efforts.”
Mark Mays further noted, “Our assets represent an exceptional platform for reaching and influencing millions of
consumers across the globe. As a result of our restructuring efforts, including the successful divestiture of non-
strategic assets during the past year, we are now a more efficient and focused company, positioned to drive returns
for our shareholders. Given the ongoing momentum we are seeing across our business, we remain optimistic
regarding our growth prospects for the full year.”
CC Media Holdings reported revenues of $1.49 billion in the second quarter of 2010, an increase of 4% from the
$1.44 billion reported for the second quarter of 2009, and revenues also would have increased 4% excluding the
effects of movements in foreign exchange rates.1
The Company’s operating expenses decreased 2% during the second quarter of 2010 compared to the second
quarter of 2009, and would have declined 1% excluding the effects of movements in foreign exchange rates.1
Included in the Company’s second quarter 2010 and 2009 operating and corporate expenses are approximately
$15.6 million and $56.7 million of restructuring charges