Revenue Up 4% at Radio One

Single-digit revenue increases seem to be the story of the day in radio right now.
Among the latest publicly held companies to report in is Radio One, which said net broadcast revenue was up 4% in the quarter that ended Sept. 30, to $84.4 million.
The company said it saw growth in Atlanta, Baltimore, Charlotte, Dallas and Raleigh-Durham, but declines in Houston and Philadelphia.
CEO Alfred C. Liggins III repeated what other executives have said, calling the third quarter a difficult industry environment.
“While the radio industry continues to find its footing, we are optimistic that, with our ratings gains, new stations coming on line, and new initiatives, we are poised to continue to outperform the industry.” Radio One has completed the purchase of KROI(FM), the former KRTS in Houston, and plans to buy the assets of WABZ(FM) in Charlotte.
For the rest of the year, Radio One expects net broadcast revenue that will be in the low single-digits compared to the same period last year.
The company has 69 stations in 22 urban markets.