• Radio Ink, Thursday, February 21, 2008 11:30 AM

In the wake of the Radio Advertising Bureau's recent report that overall revenue in the medium was off 6%, Wachovia Securities analyst Marci Ryvicker describes those numbers as a "horrible start to the new year" for the industry. She also cut her forecast for the industry to a 0.8% decline this year from a previously flat year-over-year expectation.

"We think [Wall] Street estimates for 2008 are at risk and that most numbers will come down during the next two weeks as companies report [fourth-quarter] results and provide color on" the first quarter.

Ryvicker also reduced her revenue estimates for Entercom, Cox Radio, Citadel and Entravision. But for CBS Radio, Ryvicker actually adjusted her expectations upward, from a previously expected 2.9% decline to a more modest 2.3% slump.

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