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Cox radio reported a 69% decline in earnings in the first quarter this morning while Radio One says they lost $59.4 million for Q1 as compared to the same quarter in 2008.This follows a 22% revenue drop reported by Clear Channel.  Cox is being acquired by majority owner Cox Enterprises. They reported income of $4 million compared with $12.8 million a year earlier. Revenue fell 23% to $75.5 million...local was down 21.1% and national was down 32.4%.

Meanwhile, Radio One's first quarter revenue was down 16% from the same period in 2008..$60.7 million from $72.5 million.  CEO Alfred Liggins said the company was continuing to cut costs with their push for new revenue in thedigital and on line world.
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