Radio profits up 5.5%, margins drop slightly

OTTAWA – Two years after the arrival of subscription satellite radio in Canada, the private commercial radio industry has shown no apparent ill effect as revenues continued to climb in 2007 according to numbers released by the CRTC today. Total revenues for Canada's AM and FM radio stations increased by 6.2% going from $1.4 billion in 2006 to $1.5 billion in 2007. When factoring in $1.16 billion in expenses, Canada's radio stations enjoyed profits of $300.2 million, an increase of 5.5% or $15.7 million before interest and taxes. The profit margin of 19. 99% is slightly below last year's results...