Macquarie Radio Network Limited (MRN) flagged its full year 2008 NPAT would be 17.9% lower at $4.42 million. The company said the result was driven by increased expenditures on web media.

Expenditure increased by 8.4% to $38.4 million, with Radio expenses up 2.5% and new media expenses increasing by 127% as four websites were rolled out across the year.

On the other hand, Radio and Other Revenue increased 1.71% while New Media Revenue increased 121.32%. Full story [link=]LIVENEWS[/link]