Westwood One Inc.’s losses held steady in the fourth quarter as the radio programmer posted improving revenue.
But the company took a big accounting hit covering losses from discontinued operations — two stations and Radio & Records magazine. Losses for Westwood’s continuing operations were nearly eliminated.
For the quarter ended Nov. 30, Westwood lost $ 4.3 million (28 cents) compared with a loss of $ 4.3 million (29 cents) in the like period a year ago. The loss from continuing operations was $ 727,000, improved from the $ 3.9 million deficit in the year-ago period.
Revenue was $ 28.3 million, up from $ 25.8 million.