Radio One Revenue Up

Publicly held radio groups continue to crank out third-quarter financial reports.
Radio One said its net broadcast revenue was up 20% to $101.4 million from the same period a year ago. Operating income fell 2% and station operating income was flat; the company said the drop in income was because of a one-time charge of $5.3 million related to the termination of its national sales rep deals with Interep. Excluding the impact of that, operating income and station operating income increased 12% and 11% respectively.
CEO Alfred Liggins called it “another good quarter” and said the firm’s radio stations outgrew its markets by 350 basis points.