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Technorati Tags: Cathy Hughes, Radio One, Black radio, radio facts
Radio One, Inc. (NASDAQ:ROIAK and ROIA) announced today that, effective May 30, 2008, it completed the sale of the assets of radio station KSWD-FM (formerly KRBV-FM), located in the Los Angeles, California metropolitan area, for approximately $137.5 million in cash, to Bonneville International. Radio One, Inc. (www.radio-one.com) is one of the nation's largest radio broadcasting companies and the largest radio broadcasting company that primarily targets African-American and urban listeners. Radio One, Inc. owns and/or operates 53 radio stations located in 16 urban markets in the United States. Additionally, Radio One owns Magazine One, Inc. (d/b/a Giant Magazine) (www.giantmag.com), interests in TV One, LLC (www.tvoneonline.com), a cable/satellite network programming primarily to African-Americans, Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner, and Community Connect Inc., an on-line social-networking company, which operates a number of branded websites, including BlackPlanet, MiGente and AsianAvenue. 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. Radio One does not undertake any obligation to update any forward-looking statements.
Technorati Tags: Radio One, Music Industry, Radio Facts, Cathy Hughes, Alfred LIggins, KRBV
Grammy Song Writer Extraordinaire, Sean Garrett, has worked with many of the industry's elites, such as Mary J. Blige, Usher, Janet Jackson, Ciara, Erique Iglesias and Beyonce' just to name a few; no wonder Jay-Z tagged Sean "The Pen". If that is not enough, 
Sean has been working on his new hit first single, the sexy, hook-filled "Grippin" featuring Ludacris, which is being played coast to coast and on the electrifying and groundbreaking album "Turbo 919"(Bet I Penned/Interscope Records) also boasts contributions from Pharrell, Akon, Lil Wayne, Stargate, Rodney Jerkins, and others.
Although Sean is busy scoring hit records for the music industry, he still has time to make dreams come true for teens that want to learn about the music industry. Since 2005, Sean has been a major music sponsor for the It's Cool To Be Smart Music Mentor Scholarship Programs at HOT 107.9 in Atlanta. The sponsorships go towards college tuition and book fee stipends; and work stipends at Radio One for a 6 week internship during the summer at the station. The goal of the internships at Radio One is to provide teen girls with an opportunity to shadow professional women employed at the station.
In 2008, Sean's sponsorship has provided two teens girls, Ayanna and Paitra, to be mentored by Radio One Promotions Assistant, Rashidah Jenkins for the summer. "We are so excited to once again partner with It's Cool To Be Smart in this positive initiative and give these girls the knowledge on how the basic operations are run at our station and give them hands on instructions with professional women in different departments at Radio One", stated Rashidah. The kickoff of the It's Cool To Be Smart Music Mentor Summer Internships will be at this years' HOT 107.9 Birthday Bash in Atlanta.
Sean's Music Mentor Sponsorships has also provided single parent mothers toys during the holidays at the Annual Radio One & It's Cool To Be Smart BRATZ Toy Giveaway as well as selected teen girls opportunities to attend the BET Hip-Hop Awards in Atlanta and BET Awards in Los Angles.
In order to meet the requirement for continued inclusion, NASDAQ is requesting that Radio One regain compliance within 90 calendar days (until August 19) for the company's Class A shares which have now fallen below the minimum requirement. If compliance cannot be established by August 19, NASDAQ will delist those shares, at which time Radio One can appeal. For the last 30 consecutive trading days NASDAQ asserts that Radio One's class A common shares have not maintained the minimum market value of publicly held shares of $5 million as required for continued inclusion. The notification does not affect Radio One's class D common shares which represent over 95% of its outstanding public float.
CEO Alfred Liggins commented: "This is a result of the gradual migration of our class A shareholders into our class D shares. Since January 2005, we have seen shareholders convert almost 18 million shares of class A stock into class D Stock given the conversion rights that the class A shares carry and the greater liquidity in the class D shares."
Radio One, Inc. (NASDAQ:ROIAK and ROIA), will hold its annual shareholders meeting on Wednesday, May 28 2008, at 9:30 a.m. EDT at the Mandarin Oriental Hotel, 1330 Maryland Avenue, SW, Washington, DC. Access to live audio and replay of the conference call will also be available on Radio One's corporate website at www.radio-one.com. The replay will be made available on the website for seven calendar days following the call.
Radio One, Inc. (www.radio-one.com) is one of the nation's largest radio broadcasting companies and the largest radio broadcasting company that primarily targets African-American and urban listeners. On a pro forma basis, after closing the sale of our Los Angeles station, Radio One will own and/or operate 53 radio stations located in 16 urban markets in the United States. Additionally, Radio One owns Magazine One, Inc. (d/b/a Giant Magazine) (www.giantmag.com), interests in TV One, LLC (www.tvoneonline.com), a cable/satellite network programming primarily to African-Americans, Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner, and Community Connect Inc., an on-line social-networking company, which operates a number of branded websites, including BlackPlanet, MiGente and AsianAvenue.
Radio One has made a number of recent moves to increase its online African-American audience. Last month it bought social network operator Community Connect and launched NewsOne.com, an African-American news site. Now Radio One has struck a deal to sell ads on popular hip-hop news site AllHipHop.com. AllHipHop boasts five million monthly users.
The agreement spans five years and gives Interactive One, Radio One's digital division, exclusive access to AllHipHop's ad inventory. Advertisers running ads on AllHipHop will also have access to Radio One's system, availing opportunities to broaden the reach of their messages as Radio One expands the breadth of its ad network reach.
Alejandro A. Clabiorne, vice president of marketing for the company, has given his notice and Lee Michaels, national program director for Syndication One News/Talk, has already left, three sources tell Redding News Review. Neither Clabiorne nor Michaels could be reached for comment. Their departures come as the company last week also lost another one of its key employees, talk radio star Joe Madison. Madison, who is ranked one of the top 20 talk radio show hosts in the nation and a recipient of Talkers magazine's Freedom of Speech Award, will now be working directly for rival XM 169 The Power starting in June. It is not clear if he will continue his longtime show on Radio One's WOL-AM in Washington, D.C. [source]
