Premiere Radio Networks Reports Turnaround

Premiere Radio Networks Inc., a Sherman Oaks producer and syndicator of radio programming, reported fourth-quarter earnings of $158,000, in contrast with a year-earlier loss of $221,000.

The profit turnaround in the three months ended Dec. 31 came on a 24% increase in revenue, to $4.6 million from $3.7 million.

For all of 1994, Premiere earned $2 million, compared to a 1993 loss of $521,389, while revenue rose 45% to $18 million from $12.4 million.

Premiere attributed the improved results to investments in programming and research services, as well as the sale of certain assets.