CC Media Holdings Inc.

Parent firm of WSPD owner loses $418M

CC Media Holdings Inc., the parent of radio broadcaster Clear Channel Communications Inc. and operator of five Toledo-area radio stations, this week reported a first-quarter loss of $418 million.

The disappointing earnings, which followed two rounds of layoffs affecting 2,400 employees, compare with an $800 million profit in the year-earlier period.

http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20090513/BUSINESS0...

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