Star Tribune Fri, 09 May 2008 11:30:09 GMT
Radio broadcaster Clear Channel reports profit climbed, revenue up in 1st-qtr
NEW YORK - Clear Channel Communications Inc. reported Friday its first-quarter profit soared due to asset sales, an investment gain and higher revenue, but earnings from continuing operations were flat. The radio broadcaster and outdoor advertising company, which is battling its lenders as it struggles to complete a deal to go private, earned $799.7 million, or $1.61 per share, in the first three months of the year.
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