Cox radio announced yesterday that their earnings were down to 15.9 million in the third quarter of 2008, compared to $20.2 million in the same period last year.  Revenues dropped 6% to $104.9 million compared to $111.8 million in 2007 Q3.  Local revenue dropped from $77.2 million to $74.5 million while national fell to $20.9 million from $24.5 million last year. Radio and media in general have been dealing with softening ad sales in a sagging economy.

"Our third-quarter results reflect the impact of the economic downturn across the majority of our markets, offset in part by our efforts to control costs, while continuing to make strategic investments in our programming content," Chief Executive Robert F. Neil said in a statement.

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