WASHINGTON, Feb. 7, 2012 /PRNewswire/ -- Radio One, Inc.
(NASDAQ: ROIAK and ROIA) today reported certain preliminary revenue
information for the quarter ended December
31, 2011. Giving effect to the consolidation of TV One,
consolidated net revenue increased approximately 37% compared to
the same period in 2010. Revenue for the Company's core radio
business, excluding Reach Media, decreased approximately 9.4%
compared to Q4 2010, while Reach Media's revenue increased
approximately 13% and the internet segment's revenue increased
approximately 30%. Giving effect to a pro-forma consolidation of TV
One, Q4 2011 consolidated net revenue was down approximately 2%
compared to Q4 2010. Fourth quarter 2011 local radio revenues
decreased approximately 4% and national radio revenues decreased
approximately 22% compared to Q4 2010. The markets in which we
operate radio stations were down approximately 3.8% for the quarter
versus Q4 2010.
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Looking at current pacings for Q1 2012, the core radio business
revenue is currently up approximately 6%, TV One's revenue is
currently up mid single digits, Reach Media's revenues are
expected to be broadly flat compared to Q1 2011 and our internet
segment is currently up approximately 40% compared to Q1 2011.
Given these trends, we are expecting a strong consolidated first
half performance, and anticipate remaining in compliance with the
various covenant tests contained within our credit agreement for
the foreseeable future.
The company will release its full fourth quarter 2011 earnings
statement on March 15, 2012 and will
hold a conference call at 10:00 AM
EDT on that date to discuss the earnings in more depth.
Cautionary Note Regarding Forward-Looking Statements
This press release includes forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements represent management's current expectations and are
based upon information available to Radio One at the time of this
release. These forward-looking statements involve known and unknown
risks, uncertainties and other factors, some of which are beyond
Radio One's control, that may cause the actual results to differ
materially from any future results, performance or achievements
expressed or implied by such forward-looking statements.
Important factors that could cause actual results to differ
materially are described in Radio One's reports on Form 10-K and
other filings with the Securities and Exchange Commission.
Radio One does not undertake any duty to update any
forward-looking statements.
Radio One, Inc. (http://www.radio-one.com/) is a diversified
media company that primarily targets African-American and urban
consumers. The Company is one of the nation's largest radio
broadcasting companies, currently owning or operating 53 broadcast
stations located in 15 urban markets in the United States. As a part of its core
broadcasting business, Radio One operates syndicated programming
including the Russ Parr Morning Show, the Yolanda Adams Morning
Show, the Rickey Smiley Morning Show, CoCo Brother Live, CoCo
Brother's "Spirit" program, Bishop T.D. Jakes' "Empowering
Moments", the Reverend Al Sharpton Show, and the Warren Ballentine
Show. The Company also owns a controlling interest in Reach Media,
Inc. (http://www.blackamericaweb.com/), owner of the Tom Joyner
Morning Show and other businesses associated with Tom Joyner. Beyond its core radio broadcasting
business, Radio One owns Interactive One
(http://www.interactiveone.com/), an online platform serving the
African-American community through social content, news,
information, and entertainment, which operates a number of branded
sites, including News One, UrbanDaily, HelloBeautiful, Community
Connect Inc. (http://www.communityconnect.com/), an online social
networking company, which operates a number of branded websites,
including BlackPlanet, MiGente, and Asian Avenue. In addition, the
Company owns a controlling interest in TV One, LLC
(http://www.tvoneonline.com/), a cable/satellite network
programming primarily to African-Americans.
SOURCE Radio One, Inc.