Clear Channel Communications has blamed a slight fall in profits on its decision to cut back on advertising time on its radio network.
Clear Channel is the largest US radio station group
The largest radio chain in the US saw net profits fall to $220.7m (£124m) between April and June, down from $254m at the same time last year.
Clear Channel said it had cut back on the number of advertisements as a means to attract more listeners.
It also admitted that the advertising marketplace was generally weaker.
Clear Channel's turnover fell from $2.49bn to $2.46bn.
The group also announced a retreat from its previous plan to pay a special $1.6bn dividend related to the recent spin-off of its former live entertainment unit.
Clear Channel said on Tuesday that instead of paying the $3 per share special dividend, it would instead return the money to shareholders in the form of share buybacks, a special dividend, or both.
To help achieve this, the company said it would be increasing its share buyback plans by $692m to $1bn over the next year, and that it planned to pay a special dividend in 2006 instead.
Clear Channel's results came in slightly below Wall Street estimates.