Further proof that radio has essentially become a two-company industry: According to a new report, industry leaders Clear Channel and Infinity now own nine of the nation’s 10 top-billing radio stations.
BIA Financial Network last week released its radio market and station revenue estimates for 2001. According to the survey, Clear Channel’s Los Angeles top 40 outlet KIIS-FM generated the most revenue of any station in the nation in 2001 ($61.3 million).
Clear Channel also had the No. 2 revenue grabber, New York lite AC WLTW-FM, which pulled $56.3 million.
Infinity’s sports/talk WFAN-AM, New York, which led the list for five years in the 1990s, was third, with $51.3 million.