Radio One reports third quarter loss on $90.4 million in net revenue

(November 6, 2007) Radio One, Inc. today reported its results for the quarter ended September 30, 2007. Net revenue was approximately $90.4 million, a decrease of 1.7% from the same period in 2006. Station operating income was approximately $40.9 million, a decrease of 11.6% from the same period in 2006. Operating income was approximately $31.6 million, a decrease of 7.8% from the same period in 2006. Net income was approximately $4.8 million, a decrease of 40.2% from the reported net income of approximately $8.0 million in the same period in 2006.

Alfred C. Liggins, III, Radio One’s CEO and President stated, “This quarter we continued to see a challenging radio industry environment as well as another rough quarter for our Los Angeles station. However, had Los Angeles maintained market share, our radio properties would have outperformed the industry, this time by approximately 100 basis points. Further, the fourth quarter looks soft, consistent with the past few quarters. Thus, we continue to make progress on the evolution of the company in non-radio areas.”

“Reach Media’s performance was strong for the quarter, Giant Magazine is showing nice top-line growth on a sequential basis from the beginning of the year and we are building a highly qualified team in New York to help us build our Internet initiative,” said Liggins.

“Also, TV One continues to perform very well. In addition, we are executing on our asset sales strategy, having closed on or agreed to sell approximately $150 million worth of radio stations to date. We are hopeful that 2008 will be a better year for radio and an even better year for our various other businesses that we believe have so much promise.”

Radio One will hold a conference call to discuss its results for the third quarter of 2007. This conference call is scheduled for Tuesday November 6, 2007 at 10:00 a.m. Eastern Time. Interested parties should call 480-248-5088 at least five minutes prior to the scheduled time of the call. The conference call will be recorded and made available for replay from 1:30 p.m. Eastern Time the day of the call, until 11:59 p.m. Eastern Time the following day. Interested parties may listen to the replay by calling 320-365-3844; access code 892774.

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 the seven business days following the call.

Radio One, Inc. (www.radio-one.com) is one of the nation's largest radio broadcasting companies and the largest radio broadcasting company that primarily targets African-American and urban listeners.


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