Radio One, Comcast to Form Cable Channel

Radio One, Comcast to Form Cable Channel
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Radio One and Comcast plan to merge to form a cable channel that would be a competitor to Black Entertainment Television. While Comcast is based in Philadelphia and Radio One in Lanham, Md. the new company will be based in the Washington, DC area.
The new channel provides a way for Radio One to grow into TV. Executives expect the new venture to launch by the middle of the year. Radio One Chief Executive Al Liggins III told the Washington Post he's been trying to expand into TV for four years.
Radio One is to put up $70 million and provide radio ad time in markets where Comcast launches the network. Comcast is to put up $60 million and offer the network to its subscribers. Each company would own 38.5% of the new network. Other investor deals have not been finalized.

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