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Regent Broadcast Revenues Dip In Q3

November 5, 2009: Regent Communications reports that its net broadcast revenues were down 13.9 percent in the third quarter of this year, to $21.8 million from $25.3 million in the same period a year ago. The company had a net loss in the quarter of $442,000 (1 cent per share), compared to a net loss of $45.3 million ($1.19) in Q3 2008, when Regent took a $67.5 million noncash impairment charge.

Regent's station operating income was $7.2 million in Q3, down 28 percent from $10 million a year ago. Station operating expenses were $14.5 million, down 5.3 percent from $15.3 million.

"During the third quarter we continued to execute our strategic plan to expand our presence among advertisers and audiences across our local market footprint while aggressively controlling our costs," Regent President/CEO Bill Stakelin said. "Our revenue results reflect the weak advertising market nationwide, offset in part by our consistent ability to outperform the overall radio industry and our portfolio of markets."



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