Macquarie Radio doubles profit despite Jones gaffe

Macquarie Radio doubles profit despite Jones gaffe

Macquarie Radio Network managed to double it's profits for the first half of the financial year despite the loss of ad revenues from the Alan Jones breakfast show falling in it.

Jones was forced to make an apology as advertisers pulled their support last year after a comment he made about Prime Minister Julia Gillard's dead father, costing tens of thousands in revenues.

Despite this and a depressed ad market the company recorded a $4.7m profit on the first six months, due to the absence of loss making MTR.

The figures also included a $1.7m fee for the London Olympic coverage, while the network revealed its share of the radio ad market in Sydney has slipped from 25% to 23.5%.

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