Radio One Offers Radio Revenue Outlook For Q4
January 30, 2014 at 4:40 AM (PT)
In its SEC Form 8-K filing in connection with its previously announced proposed $335 million private note offering, RADIO ONE has offered preliminary results for fourth quarter 2013, projecting radio revenues off slightly but up if political revenue is not considered.
A note added to the filing said, "The Company expects that Radio Broadcasting and REACH MEDIA net revenues for the three months ended DECEMBER 31st, 2013 will be down in the low single digits on a percentage basis compared to the same period in 2012 due to reduced local and national political advertising revenue. Excluding the effect of such reduced political spending, combined net revenues in these segments were up in the mid-single digits on a percentage basis."