Security in numbers

The top 25 radio groups now control nearly one-quarter of all stations

A tough economy and slumping financial markets laid a heavy hand on the top 25 radio groups in 2001, reducing their revenues and slowing the rate of consolidation in the industry. Still, the top 25 radio groups managed to increase market share, in terms of both advertising and the number of stations they control.

That's a snapshot of the industry as executives begin pouring into Seattle for the NAB Radio Show (Sept. 12-14).

"The top groups were not as active in 2001 as they had been in terms of acquisitions," notes Mark Fratrick, vice president of BIA Financial, which provided the data for this year's ranking of the largest radio groups. "It was really a year for management trying to digest their acquisitions and integrate them into their companies. The difficult economic climate forced them to look for ways to better manage their properties and achieve efficiencies that will put them in a stronger position when the downturn ends."

Thanks to an overall slowdown in radio advertising in 2001, revenues for the top 25 fell from $10.2 billion in 2000 to $9.5 billion. But there were signs that the major groups saw some slight benefits from the industry's consolidation. Although the total ad pie shrank from $17.6 billion in 2000 to $16.2 billion in 2001, the top groups managed to increase their share of total ad revenues from 57% in 2000 to nearly 59% in 2001.

Once again, Clear Channel, with 1,238 stations, topped the list.

Overall, the top 25 groups controlled 2,824 stations in 2001, a 4% increase from the 2,710 stations held by these companies in 2000, and they controlled 24.9% of the country's 11,373 commercial stations.

For the first time, Broadcasting & Cable has included maps showing the reach of the stations owned by the top 10. These maps are not intended to give a exact picture of the reach of each group, but they do give an idea of how the groups' stations are clustered in different regions.

Chart toppers
2002 rank 2000 rank Radio group 2001 rev. millions
* Pending approval of Univision's purchase of Hispanic Broadcasting
NR = Not in the Top 25 last year
Source: BIA Financial
11Clear Channel$3,265.4
33Cox Radio$431.4
54ABC Radio$403.9
77Radio One$287.6
811Cumulus Media$267.1
1110Susquehanna Radio$224.0
1313Greater Media$153.4
1614Spanish Broadcasting$122.4
2019Journal Broadcast$69.2
2221Sandusky Radio$58.2
2322Inner City$57.0

The information included in this listing is from BIA Financial and is based on 2000 gross revenue estimates for the stations.

These totals were allocated to the owners for all their current and pending holdings plus any stations operated through an LMA as if the owner had the properties for the entire year.

By the same token, if an owner has filed to sell a property to another company but has not closed on the transaction, the revenues of the station are attributed to the pending owner.

1. Clear Channel
L. Lowry Mays, chairman/CEO
Mark Mays, president/COO
200 E. Basse Rd.
San Antonio, TX 78209-8328
Ownership: Public (NYSE: CCU)
Total markets: 190
Stations: 1,238
Revenues: $3,265,382,000
2. Infinity Broadcasting
John Sykes, chairman/CEO
1515 Broadway
New York, NY 10036-8901
Ownership: Viacom (NYSE: VIA)
Total markets: 41
Stations: 183
Revenues: $2,081,075,000
3. Cox Radio
Robert Neil, president/CEO
6205 Peachtree Dunwoody Rd. NE
Atlanta, GA 30328-4524
Ownership: Public (NYSE: CXR)
Total markets: 18
Stations: 79
Revenues: $431,400,000
4. Entercom
David J. Field, president/CEO
401 City Ave., Ste. 409
Bala Cynwyd, PA 19004-1121
Ownership: Public: (NYSE: ETM)
Total markets: 19
Stations: 103
Revenues: $407,850,000
5. ABC Radio
John Hare, president, ABC Radio
13725 Montfort Dr.
Dallas, TX 75240-4455
Ownership: Disney (NYSE: DIS)
Total markets: 35
Stations: 65
Revenues: $403,850,000
6. Citadel Communications
Farid Suleman, CEO
7201 W. Lake Mead Blvd, Ste. 400
Las Vegas, NV 89128-8366
Ownership: Public (Nasdaq: CDL)
Total markets: 41
Stations: 206
Revenues: $312,635,000
7. Radio One
Alfred C. Liggins III, president/CEO
5900 Princess Garden Pkwy.
Lanham, MD 20706-2925
Ownership: Public (Nasdaq: ROIA)
Total markets: 22
Stations: 64
Revenues: $287,647,000
8. Cumulus Media
Lewis W. Dickey Jr., chairman/president/CEO
3535 Piedmont Rd., Bldg. 14
Atlanta, GA 30305-4601
Ownership: Public (Nasdaq: CMLS)
Total markets: 54
Stations: 258
Revenues: $267,110,000
9. Univision Communications*
A. Jerrold Perenchio, chairman/CEO
1999 Avenue of the Stars
Los Angeles, CA 90067-4611
Ownership: Public (NYSE: UVN).
Total markets: 16
Stations: 57
Revenues: $256,050,000
*Pending deal to acquire Hispanic Broadcasting
10. Emmis Communications
Jeff Smulyan, chairman/CEO
Rick Cummings, president, Emmis Radio
40 Monument Circle, Ste. 700
Indianapolis, IN 46204-3011
Ownership: Public (Nasdaq: EMMS)
Total markets: 7
Stations: 21
Revenues: $251,050,000
11. Susquehanna Radio
Dave Kennedy, president/COO
140 E. Market St.
York, PA 17401-1219
Ownership: Private
Total markets: 9
Stations: 31
Revenues: $224,025,000
12. Bonneville International
Bruce T. Reese, president/CEO
PO Box 1160
Salt Lake City, UT 84110-1160
Ownership: Private; The Church of Jesus Christ of the Latter-day Saints
Total markets: 6
Stations: 20
Revenues: $188,750,000
13. Greater Media
Peter Smyth, president/CEO
35 Braintree Hill Office Park
Braintree, MA 02184-8703
Ownership: Private
Total markets: 6
Stations: 19
Revenues: $153,400,000
14. Salem Communications
Edward G. Atsinger III, president/CEO
4880 Santa Rosa Rd., Ste. 300
Camarillo, CA 93012-0958
Ownership: Public (Nasdaq: SALM)
Total markets: 34
Stations: 82
Revenues: $132,925,000
15. Jefferson-Pilot Communications
Clarke Brown Jr., president, Radio Division
3350 Peachtree Rd. NE, Ste. 1800
Atlanta, GA 30326-1040
Ownership: Public (NYSE: JP)
Total markets: 5
Stations: 17
Revenues: $126,150,000
16. Spanish Broadcasting System
Raul Alarcon Jr., president/CEO
2601 S. Bayshore Dr., PH 2
Coconut Grove, FL 33133-5417
Ownership: Public (Nasdaq: SBSA)
Total markets: 7
Stations: 22
Revenues: $122,350,000
17. Beasley Broadcast Group
George G. Beasley, chairman/CEO
3033 Riviera Dr., Ste. 200
Naples, FL 34103-2750
Ownership: Public (Nasdaq: BBGI)
Total markets: 11
Stations: 43
Revenues: $115,650,000
18. Saga Communications
Edward K. Christian, president/CEO
73 Kercheval Ave.
Grosse Pointe, MI 48236-3603
Ownership: Public (Amex: SGA)
Total markets: 11
Stations: 62
Revenues: $100,075,000
19. Entravision Communications
Walter Ulloa,
Jeffrey A. Liberman, president, Radio Division
2425 Olympic Blvd., Ste. 6000
W. Santa Monica, CA 90404-4030
Ownership: Public (NYSE: EVC)
Total markets: 22
Stations: 54
Revenues: $69,350,000
20. Journal Broadcast Group
Doug Kiel, vice chairman/CEO
Carl Gardner, president, radio
7280 E. Capitol
Milwaukee, WI 53201-0693
Ownership: Private
Total markets: 8
Stations: 36
Revenues: $69,225,000
21. Regent Communications
Terry Jacobs, chairman/CEO
William Stakelin, president/COO
100 E. Rivercenter Blvd., 9th Fl.
Covington, KY 41011-1622
Ownership: Public (Nasdaq: RGCI)
Total markets: 13
Stations: 61
Revenues: $64,425,000
22. Sandusky Radio
Norman D. Rau, president
515 Park Ave., Apt 4A
New York, NY 10022-1110
Ownership: Private
Total markets: 2
Stations: 10
Revenues: $58,200,000
23. Inner City Broadcasting
Pierre Sutton, chairman/CEO
Charles Warfield, president/COO (pictured)
3 Park Ave., 40th Fl
New York, NY 10016-5902
Ownership: Private
Total markets: 8
Stations: 17
Revenues: $56,975,000
24. NextMedia Group
Skip Weller, president/co-COO
6312 S. Fiddlers Green Circle
Englewood, CO 80111-4946
Ownership: Private
Total markets: 10
Stations: 52
Revenues: $52,800,000
25. Lotus Communications
Howard A. Kalmenson, CEO
1645 Vine St., Ste. 200
Los Angeles, CA 90028-8841
Ownership: Private
Total markets: 7
Stations: 24
Revenues: $45,900,000