Merger partners post growth

NEW YORK — Evergreen Media Corp. and Chancellor Broadcasting Corp., due to merge in coming months into a radio giant, both reported strong growth in second-quarter earnings Tuesday.

Evergreen said its broadcast cash flow, before depreciation, amortization and corporate expenses, rose 60.1% to $48.2 million. It reported a net profit of $4.8 million compared with a loss of $3.4 million a year earlier.

Chancellor said its broadcast cash flow jumped 73% to $31.4 million although the net loss increased from $2.3 million to $16.8 million after a big increase in preferred dividends and a $7 million one-time loss on early repayment of debt.

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