Urban One said it has identified at least $20 million in annualized cost savings for 2027 after posting weaker-than-expected third-quarter results and cutting its full-year profit outlook.
CEO and President Alfred C. Liggins III said management is “hyper-focused on cost reductions heading into next year.” He made the comments while discussing results for the three months ended Sept. 30.
The media company, which operates radio stations, the TV One cable network and digital properties aimed at Black audiences, reported a net loss attributable to common stockholders of $119.2 million, or $26.39 per share. That compared with a loss of $2.8 million, or 64 cents per share, a year earlier.
The latest loss included $128.9 million in asset impairment charges. Consolidated net revenue fell 5% to $88 million from the same period in 2025.
Adjusted EBITDA declined to $12.3 million from $14.2 million. Urban One lowered its full-year 2026 adjusted EBITDA guidance to $40 million, citing continued weakness in the advertising market. It had previously guided to the mid-$50 million range.
Political advertising provided some support but fell short of internal projections. The company recorded more than $800,000 in net political revenue during the quarter and now expects about $8.8 million across all divisions for the full year. Radio political revenue is projected at roughly $8.4 million, below a budget of about $11 million, Liggins said.
Results were mixed by segment. Radio broadcasting revenue rose, helped by political ads and the July acquisition of Dallas stations KKDA and KRNB, which contributed $1.9 million in net revenue. Digital revenue fell sharply on large client attrition and lower rates in national direct advertising. Cable television revenue also declined amid weak demand in the scatter market.
Liggins noted an increase in local digital revenue in radio markets but said national digital pressures outweighed those gains. Management has not specified which operations, departments or cost lines will be affected by the planned $20 million in annualized savings.
Urban One operates more than 50 radio stations in major markets and reaches tens of millions of households through its cable television networks.
The latest loss included $128.9 million in asset impairment charges. Consolidated net revenue fell 5% to $88 million from the same period in 2025.
Adjusted EBITDA declined to $12.3 million from $14.2 million. Urban One lowered its full-year 2026 adjusted EBITDA guidance to $40 million, citing continued weakness in the advertising market. It had previously guided to the mid-$50 million range.
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| Alfred Liggins |
Results were mixed by segment. Radio broadcasting revenue rose, helped by political ads and the July acquisition of Dallas stations KKDA and KRNB, which contributed $1.9 million in net revenue. Digital revenue fell sharply on large client attrition and lower rates in national direct advertising. Cable television revenue also declined amid weak demand in the scatter market.
Liggins noted an increase in local digital revenue in radio markets but said national digital pressures outweighed those gains. Management has not specified which operations, departments or cost lines will be affected by the planned $20 million in annualized savings.
Urban One operates more than 50 radio stations in major markets and reaches tens of millions of households through its cable television networks.
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