Premiere Radio Posts $220,795 4th-Quarter Loss

Premiere Radio Networks Inc., a Sherman Oaks radio station owner and producer of radio programming, reported a $220,795 net loss for the fourth quarter. A year earlier, the company earned $190,174.

Revenue in the three months that ended Dec. 31 totaled $3.27 million, a 35% increase from the $2.43 million in revenue one year ago.

In all of 1993, Premiere lost $521,389, while its revenue grew 7%, to $10.8 million. In 1992, the company had net income of $1.16 million on $10.1 million in revenue.

Premiere had earlier said it expected the loss in 1993 because of investments that it made last year, including its purchase of a radio station in Denver and the acquisition of Olympia Radio Networks. It also started its first nationally syndicated morning radio show, “Gerry House and the House Foundation.”