Milwaukee-based multimedia empire Journal Communications on Wednesday ( Feb.13) reported that Santa apparently didn’t stop at the company’s radio stations in December as revenue for the month was $7.9 million, down 21.1% compared to $10.05 million during the previous December.
Journal Communications, which reported similar declines in its television and publishing segments, blamed radio’s decline on the “weakness in local and national advertising.” The company said that it expects the challenges to continue and that both radio and television revenues are expected to be down slightly in the early part of this year.
In noon-time trading, some 208,500 shares of JRN had been traded, down 68 cents or 8% to $7.57
