Radio One posts loss in second quarter

Daily Record Staff//August 13, 2013//

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Radio One Inc., of Silver Spring, the nation’s largest broadcasting company serving primarily black audiences, reported a second-quarter net loss of $14.2 million, or 29 cents per diluted share, versus net income of $42.7 million, or 85 cents per share, for the year-ago period.

Revenue totaled $119.6 million compared to $105.8 million in the 2012 period.

In a statement, Radio One President and CEO Alfred C. Liggins pointed to “choppy” radio advertising markets, noting a June slowdown that cut core radio revenue substantially. At the same time, he said, the company’s television and interactive business segments performed well. Radio one currently owns and/or operates 54 radio stations in 16 urban markets in the U.S.

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