Radio Still Slipping (CBS)

No surprise here: Terrestrial radio continues to slip. Bank Of America analyst Jonathan Jacoby, via, says revenue at large market stations dropped 2 to 3 per cent in August; he’s projecting an overall drop of .4 per cent in 2007. Jacoby says he hears that Clear Channel and CBS stations in particular are struggling; last week at the Merrill conference the otherwise ebullient Les Moonves acknowledged that CBS’ radio unit was “challenged.” RadioInk

Related: CBS’ Moonves At Merrill Media Conference: Notes