Radio One Revenues Drop For Q3

3rd Quarter Revenues Down

RADIO ONE third quarter net broadcast revenue fell 2% to $99.1 million, and adjusted EBITDA slipped 4% to $39.7 million, with net income falling from $11.5 to $8 million (11 to 8 cents/share). 

The company blamed the revenue decline on overall industry weakness in the company's markets, plus "significant decline" at its KKBT (THE BEAT)/LOS ANGELES and declines in ATLANTA and CHARLOTTE, partially offset by growth in BALTIMORE, HOUSTON, WASHINGTON, and ST. LOUIS, among others, and growth at the REACH MEDIA syndication division, SYNDICATION ONE talk network, and the company's 25th anniversary event in AUGUST.

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