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Radio One decides
not to move its headquarters to Washington, D.C. site
(February 26, 2010) Radio One, Inc. announced today that it has decided not to lease space at the residential/office complex to be constructed by Four Points, LLC at Seventh and S Streets, N.W., DC. Alfred C. Liggins, III, Radio One's CEO and President commented, "We understand the significance of revitalizing the Shaw neighborhood and are grateful to the District of Columbia for having allocated significant funds to assist Four Points in attracting a tenant such as Radio One. We wish the District much success in encouraging the continued economic development of the Shaw neighborhood." The District of Columbia first allocated funds to the residential/office complex in 2007 to attract Radio One as a tenant when the expected completion date for the office building was 2009. Since then, there has been an unprecedented decline in the economy causing continued postponement of the groundbreaking, which in turn has resulted in substantial delays to our move in date. Radio One reassessed its options in light of the new economic reality and the upcoming expiration of its Lanham, Maryland lease on December 31, 2011, and concluded that this is not the appropriate time to commit to moving its operations to a yet to be constructed building. The current economic climate requires fiscal discipline and, as a public company, Radio One has an obligation to be austere in its approach to the use of capital. Radio One believes that there are more cost effective options for our corporate headquarters, especially given the decline in rents and widespread availability of commercial real estate. With numerous opportunities in all local jurisdictions, including the District of Columbia, Radio One is confident it can achieve its goals of relocating the Company's operations, including the operations of TV One, to an office building with reasonable occupancy costs, easy access for employees and ample parking. Go to Target Market News homepage RECENT STORIES Arbitron issues annual study, Black Radio Today 2009 with PPM data for first time TV One launches on Verizon FiOS TV video on demand service Terrie Williams Agency, Ad Council team up on black mental health campaign Black Cable TV Ratings for Week of Feb. 15 - 21 Jill Scott in 'Sins of the Mother' gives Lifetime million and a half black viewers IMAGES USA, The Futures Co. debut first multicultural millennials study 4BlackYouth.com gives students a site with comprehensive success tools Black TV Ratings for Week of February 15 - 21 Winter Olympic games are must-see TV for everyone except black viewers New weekly syndicated radio show, Cafe Mocha, targets African American women Magic Johnson says discussions with JPC didn't reach 'definitive agreement' TV One high def added more than 4 million HD households last year |
15th Annual Edition 'Buying Power of Black America' report breaks down billions in expenditures  (January
19, 2010) Black consumers are responding to tighter economic
condition by focusing more of their spending on items and services
that improve their homes and lifestyle. That's one of the trends
revealed in the 15th annual report, "The Buying Power of Black
America," published by Target Market News. The report analyzes
spending for black households in 2008 and finds that
African-Americans...Story continued...  _________________________________________________________________________________________ |
