7 of 20
BACKNEXT
7. CC Media Holdings
7. CC Media Holdings
Fortune 500 rank: 376
2009 loss: $4.0 billion
When it comes to media companies, it's the same story all around. Advertising declines have hit the newspaper and magazine industries first and hardest, but billboard and radio segments got whacked too. As a result, CC Media, parent company of Clear Channel Communications, suffered a $1.1 billion decline in 2009 revenue -- an almost 18% drop over 2008.

Private equity firms Thomas H. Lee and Bain Capital created CC Media to take Clear Channel private in 2008, although about a third of the company is still traded publicly. It's loaded with about $20 billion in long-term debt, most of which stems from the deal. CC Media also took a big charge related to its declining revenue.

NEXT: 8. News Corp.
Last updated April 20 2010: 1:46 PM ET
Email | Print | Share  |  RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Top 50 Wal-Mart knocks Exxon Mobil out of the No. 1 slot to rule the Fortune 500 again. Which other companies made the top 50 this year? More
They're hiring! These Fortune 100 employers have at least 200 openings each, totaling more than 60,000 jobs. What are they looking for in a new hire? More
20 most profitable Fortune 500 earnings soared, despite a seemingly feeble recovery. From Exxon Mobil to Goldman, here are the biggest winners. More