Radio One has scheduled shareholders meeting for May 28th

(May 15, 2008) Radio One, Inc has announced that it will hold its annual shareholders meeting on Wednesday, May 28 2008, at 9:30 a.m. EDT at the Mandarin Oriental Hotel, 1330 Maryland Avenue, SW, Washington, DC. Access to live audio and replay of the conference call will also be available on Radio One's corporate website at www.radio-one.com. The replay will be made available on the website for seven calendar days following the call.

Radio One just reported net revenue for the first quarter of 2008 was approximately $72.5 million, a decrease of 2% from the same period in 2007. That represents a net loss of approximately $18.3 million, or a loss of $0.19 per basic share.

The gathering will give President and CEO, Alfred Liggins, the opportunity to elaborate in detail on the company’s recent performance in the face of a declining advertising market, as well as plans for its growth in digital platforms.

"The thing that I'm most focused on right now, which could be an opportunity as big as TV One, maybe bigger, is our online activities," Liggins said recently in Radio Ink.

Radio One has invested $30 million in Interactive One. The new division recently acquired the social networking site, Community Connect and established an ad buying network that includes the news and entertainment site, AllHipHop.com.

Liggins told Radio Ink that his vision is "to create a full-fledged online company. Not just great radio sites, but a full-fledged online company that can actually compete for online dollars. Because, unlike my other radio brethren, I believe that current digital revenue -- although it's growing at a nice double-digit clip -- is just repurposed radio dollars.”

Among its other growth and restructuring moves, Radio One expanded its One Love Gospel Cruise event, which Liggins said generated over $2.5 million of revenue. The company also invested in new on-air talent for its syndicated programs, notably comedienne Mo’Nique as its latest talk show host.


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