BUSINESS
By Tricia Bishop and Tricia Bishop,SUN STAFF | July 24, 2004
Radio giant Clear Channel Communications Inc. has partnered with a Columbia company to begin the transition of 1,000 of its stations to digital - or "high definition" - broadcasting, which has been described as the biggest development in radio since the advent of FM. The move could help speed the industry's adoption of the technology, which offers CD-quality sound and screen data displays such as song titles and weather alerts. The company hopes to stave off a decline in listeners lured away by competing satellite radio, a paid service.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | February 12, 2003
Lanham-based Radio One Inc., the nation's largest radio broadcaster serving black listeners, reported yesterday a profitable fourth quarter as the advertising market improved and the audience grew at many of its stations. Net income was $3 million or 3 cents a share, compared with a loss of $15 million, or 16 cents per share, for the corresponding period a year earlier. Two key indicators of a company's performance in the radio industry were positive for Radio One in the three months that ended Dec. 31: Net broadcast revenue was $76.9 million, up 14 percent from $67.4 million the year before, while broadcast cash flow climbed 19 percent, from $33 million to $39 million.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | August 1, 2002
Radio One Inc. yesterday reported second-quarter net income of $13.2 million, or 13 cents a share, up from a loss of $14.6 million, or 16 cents a share, in last year's second quarter. The Lanham-based company benefited from an improving advertising climate at a time when it was seeing the early fruits from a recent expansion. Net broadcast revenue was $80.2 million, up 29 percent from a year earlier. Broadcast cash flow increased 28 percent to $43 million from $34 million. Both are key indicators of success in the radio industry.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | May 4, 2002
Radio One Inc., the nation's largest radio broadcaster serving black listeners, reported yesterday record first-quarter revenue but a wider loss after writing down the value of Federal Communications Commission licenses at four stations in one of its markets. The Lanham company said its net loss increased to $22 million, or 28 cents per share, from $15.1 million, or 23 cents per share, in last year's first quarter. Radio One took a $23.2 million charge in the quarter under a new accounting rule that requires U.S. companies to take charges related to good will and intangible assets all at once, rather than in increments for up to 40 years.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | February 22, 2002
Radio One Inc. said yesterday that it suffered a $15.4 million fourth-quarter loss, but analysts and company officials said other key indicators show that the nation's largest radio broadcaster serving black listeners is performing well. The loss, which amounted to 16 cents a diluted share, compares with a loss of $7.87 million, or 9 cents a diluted share, a year earlier. "The tragic events of [Sept. 11] brought business to a halt for a while, and advertising cancellations were numerous during the days and weeks following the attack," Radio One Chief Financial Officer Scott Royster told analysts in a conference call yesterday.
BUSINESS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | September 2, 2001
After a three-year buying frenzy, Radio One Inc. has more than met its goal of dominating the African-American radio market. Now the hard part begins, as the Lanham-based company must make its new stations profitable in an unfavorable economy. "The thing that people don't understand is that buying radio stations is pretty easy," said Scott Royster, the company's chief financial officer. "There's nothing to celebrate until you've created wealth for your radio stations. We have to make our investors happy."