Radio One Announces Company Presentations During the NAB Conference in Las Vegas, NV and Updates First Quarter Guidance
WASHINGTON--(BUSINESS WIRE)--April 19, 2004--Radio One, Inc. ("Radio One") (NASDAQ:ROIAK and ROIA) announced today that Scott R. Royster, Executive Vice President and CFO, will present at the Bear Stearns Annual NAB "Broadcast-Only" Conference (Bear Stearns Conference) and A.G. Edwards Annual Media and Entertainment Conference (A.G. Edwards Conference) in Las Vegas.
The Bear Stearns Conference will be held on Monday, April 19, 2004 at the Bellagio Hotel. Mr. Royster is scheduled to present at the Bear Stearns Conference at 10:30 a.m. Pacific Time. The A.G. Edwards Conference will be held on Tuesday, April 20, 2004 at The Venetian Hotel. Mr. Royster is scheduled to present at the A.G. Edwards Conference at 5:15 p.m. Pacific Time.
Furthermore, the Company also updated guidance for the first quarter of 2004 and now expects to report that net revenue and station operating income increased approximately 10% and 15% respectively from the first quarter of 2003. The Company previously provided guidance for first quarter of 2004 that predicted net revenue and station operating income growth in the mid-single digit range.
Radio One, Inc. (www.radio-one.com) is the nation's seventh largest radio broadcasting company (based on 2003 net broadcast revenue) and the largest company that primarily targets African-American and urban listeners. Radio One owns and/or operates 67 radio stations located in 22 urban markets in the United States and reaches approximately 13 million listeners every week. Radio One also programs "XM 169 The POWER" on XM Satellite Radio and owns approximately 40% of TV One, LLC, an African-American targeted cable channel, which is a joint venture with Comcast Corporation.
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 Radio One's reports on Forms 10-K and 10-Q and other filings with the Securities and Exchange Commission.
CONTACT: Radio One, Inc. Scott R. Royster, 301-429-2642 SOURCE: Radio One, Inc.