• by Erik Sass  @eriksass1, March 31, 2010

The stragglers are reporting radio ad revenue figures for the fourth quarter of 2009, and holding out until the end of March didn't make the figures any better. Among the companies reporting fourth-quarter declines were Radio One, Regent Communications, and Westwood One, all of which posted percentage drops in the high single digits or low double digits.

Radio One, which operates a network of radio stations targeting minority audiences, said that total revenues declined 8.9% in the fourth quarter of 2009 compared to the same period in 2008, to $67.3 million. As a result, station operating income slid 16.2%, from $31.4 million in the fourth quarter of 2008 to $26.3 million last year. The company also revealed a non-cash impairment charge against the value of FCC licenses and intangible assets equal to $17 million.

Total revenues declined 10.1% at Regent Communications, from $23.7 million in the fourth quarter of 2008 to $21.3 million last year. As a result, station operating income fell 17.8% from $8.9 million to $7.3 million.

Like Radio One, Regent also recorded a non-cash impairment charge in the fourth quarter of 2009 -- equal to $12.8 million -- based on the decline in value of various tangible and intangible assets. The fourth quarter results also included an update on Regent's ongoing Chapter 11 bankruptcy protection, with management's plan for exiting bankruptcy due for review in court on April 9.

Finally, Westwood One said total revenues declined 8.7% between the fourth quarter of 2008 and the same quarter in 2009, from $101.1 million to $92.3 million. However, the company also delivered some good news: It should be able to avoid filing for Chapter 11 bankruptcy protection thanks to renegotiated lending covenants with its various creditors.