Posted AT 10:49 AM EDT on 09/05/08
Clear Channel profit up on sale of assets
NEW YORK — — Clear Channel Communications Inc. reported Friday its first-quarter profit soared due to asset sales, an investment gain and higher revenue, but earnings from continuing operations were flat.
The radio broadcaster and outdoor advertising company, which is battling its lenders as it struggles to complete a deal to go private, earned $799.7-million (U.S.), or $1.
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