Clear Channel eliminates 9% of work force

Clear Channel has cut 1,850 jobs, or 9% of its staff, with the bulk of the layoffs -- 1,500 jobs -- reportedly coming from its radio unit. The company's Q3 sales for radio broadcasting dropped 7%, while its outdoor division, on the strength of digital billboards, posted only a 1% drop.

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International Herald Tribune · MediaPost Communications · Radio Ink

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