RADIOMUTUEL COMES OUT AHEAD
By Adnews Staff
Radiomutuel Inc. of Montreal has rebounded into the black with a net income of just over $1 million for the year ending Aug. 27, 1995. This compares with a net loss of over $3 million the year before. Revenues for the fiscal year were $52.8 million. This figure was close to the $54 million brought in the previous year, even though the company closed four AM radio stations in October, 1994. Operating income went up to $7.1 million from $2.2 million the previous year. Radiomutuel operates the Radio-Energie network and its eight FM radio stations. It teamed up last year with Telemedia of Montreal to operate three Montreal-area AM radio stations in a 50-50 joint venture called Radiomédia. The two companies are also partners in the Radiomédia Information network. Radiomutuel is half owner of the specialty TV channel MusiquePlus. It also owns the vertical billboard company called Omni Outdoor and Company Limited Partnership.