Radio One Reports 3Q Radio Revenue Increased 7.7 Percent Y2Y

Radio One, Inc. today reported its results for the quarter ended September 30, 2013.

• Net revenue was approximately $118.4 million, an increase of 7.7% from the same period in 2012.
• Station operating income was approximately $44.8 million, an increase of 9.7% from the same period in 2012.
• The Company reported operating income of approximately $21.8 million for the three months ended September 30, 2013, compared to operating income of $21.5 million for the same period in 2012.
• Net loss was approximately $13.2 million or $0.28 per share compared to a net loss of $13.1 million or $0.26 per share, for the same period in 2012.

Alfrd C. Liggins III

Alfred C. Liggins, III, Radio One's CEO and President stated, "Overall I am pleased with our 12.5% increase in adjusted EBITDA2. Our radio business, including Reach Media, grew revenues by 3.4% year-to-year despite the toughening political comparatives.

Excluding political, our Q4 radio revenues are currently pacing up mid-single digits. Despite the $6.1 million of cyclical political revenue that we booked in Q4 2012, we expect Q4 radio revenues to finish approximately flat, which will be quite an achievement given that 2012 was a record year for our political revenues."

Net revenue increased to approximately $118.4 million for the quarter ended September 30, 2013, from approximately $109.9 million for the same period in 2012, an increase of 7.7%.

Net revenue from the radio business, including Reach Media, increased 3.4% for the quarter ended September 30, 2013 compared to the same period in 2012.