Ad sales boost Clear Channel

Clear Channel Communications Inc., poised to go private in a $19.5-billion buyout, said fourth-quarter profit increased 52% on higher outdoor advertising sales.

Net income rose to $320.6 million, or 65 cents a share, from $211.3 million, or 43 cents, a year earlier, said the San Antonio-based company, the largest U.S. radio broadcaster.

Sales gained 3.7% to $1.84 billion. Analysts surveyed by Bloomberg were expecting revenue of $1.87 billion. Profit excluding discontinued operations totaled 45 cents.

Clear Channel shares rose 87 cents to $30.90 in after-hours trading after results were announced.

They gained 64 cents to $30.13 in regular trading.