Radio One, Inc. Comments on 2002 Fourth Quarter Guidance
WASHINGTON, Jan. 13 /PRNewswire-FirstCall/ -- Radio One, Inc. ("Radio One" or the "Company") (Nasdaq: ROIAK; ROIA) today reported that 2002 fourth quarter net revenue will increase at least 13% over the prior year's fourth quarter net revenue. Same station results will be the same as reported results as all stations operating in the fourth quarter of 2002 were being operated by the Company in the fourth quarter of 2001. The Company also affirmed all other 2002 fourth quarter guidance provided in its 2002 third quarter earnings press release dated October 30, 2002. The Company expects to release its 2002 fourth quarter earnings during the first half of February, 2003.
Radio One, Inc. (http://www.radio-one.com ) is the nation's seventh largest radio broadcasting company (based on 2001 pro forma revenue) and the largest primarily targeting African-American and urban listeners. Pro forma for all announced acquisitions, the Company owns and/or operates 66 radio stations located in 22 urban markets in the United States and reaches approximately 12.5 million listeners every week. The Company also programs five channels on the XM Satellite Radio Inc. system.
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Because these statements apply to future events, they are subject to risks and uncertainties that could cause actual results to differ materially, including the absence of a combined operating history with an acquired company or radio station and the potential inability to integrate acquired businesses, need for additional financing, high degree of leverage, seasonal nature of the business, granting of rights to acquire certain portions of the acquired company's or radio station's operations, market ratings, variable economic conditions and consumer tastes, as well as restrictions imposed by existing debt and future payment obligations. Important factors that could cause actual results to differ materially are described in the Company's reports on Forms 10-K and 10-Q and other filings with the Securities and Exchange Commission. SOURCE Radio One, Inc.
/CONTACT: Scott R. Royster, Executive Vice President and Chief Financial Officer, of Radio One, Inc., +1-301-429-2642/