HT&E reported a 17% lift in revenue for its radio network ARN in the September quarter.
In a trading update during a presentation to a UBS event, the company says October radio revenues finished up 8.1%, ahead of the broader radio market, up 6.1%.
The company says forward bookings are pacing well ahead of same time last year, and radio revenues are expected to finish 5% to 10% up for the quarter.
Digital audio revenues continue to gain strong traction and now average about $1.5 million per month, up from $1 million in the previous quarter.
Full year cost outlook remains unchanged with total people and operating costs expected to finish $2 million $3 million above 2019 levels.
The company last week announced the acquisition of Grant Broadcasters for $307.5 million.
The acquisition includes Grant Broadcasters’ 46 stations across FM and AM.
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