Katz No Longer Representing Radio One National Sales
July 25, 2013 at 4:30 AM (PT)
RADIO ONE filed a form 8-K with the SEC, noting it would no longer be represented by KATZ COMMUNICATIONS.
The company wrote, "On JULY 22, 2013, RADIO ONE, INC. together with certain of its operating subsidiaries received notice from KATZ COMMUNICATIONS, INC. and various of its divisions and affiliates that KATZ was terminating its national sales representation of the Company effective 14 months from the date of the notice, as provided under the terms of various representation agreements and a master representation agreement."
The filing added, "While the termination notice would provide for a termination of the relationship between RADIO ONE and KATZ effective SEPTEMBER 23, 2014, the parties are in continued negotiation with respect to a new sales representation agreement. While the Company cannot guarantee that an agreement will be reached with respect to continued sales representation by KATZ, RADIO ONE anticipates completing a new sales representation agreement with KATZ or another sales representative prior to the Effective Termination Date and does not anticipate any interruption with respect to national sales representation."