Radio One / ROIA

About Radio One

5900 Princess Garden Pkwy., Seventh Floor, Lanham, Md. 20706
www.radio-one.com | 301-306-1111 | Founded: 1980

Industry: Media/Data | Category: Public Companies

Liggins continues to look for ways to shore up the lagging performance of the company's urban radio stations. Having created TV One in late 2004 with Comcast, Liggins is focusing the majority of his efforts on finding revenue-producing opportunities for radio on the Web.
Earlier this year, the company announced that an internal audit showed evidence of problems with its reporting of stock-option grants. The Securities and Exchange Commission launched an informal investigation, and Nasdaq notified Radio One that it faced delisting for not having filed its year-end financial reports. Radio One officials filed for an extension of the reporting deadline to address the stock option accounting issues and said the company would likely have to restate earnings from 1999 to 2005.
Radio One reported a 2 percent decline in revenue and a $22.9 million loss for the fourth quarter. Liggins attributed the declines to the format and talent makeover of its Los Angeles property, KRBV-FM. Like many other urban-format radio stations, it has seen its market share erode with the rise of Hispanic radio.
In June, Mary Catherine Sneed, the company's chief operating officer, left Radio One. The position has not been filled.
Also last year, Radio One announced a joint venture with Reach Media to develop African American radio programming. As part of that venture, it launched nationally syndicated news/talk shows hosted by the Rev. Al Sharpton, author Michael Eric Dyson and others.

President and CEO: Alfred C. Liggins III

2006 Financial Data