Radio One, Inc. Announces Posting in Houston, Texas Market
WASHINGTON, Sep 02, 2008 (BUSINESS WIRE) -- Radio One, Inc. (NASDAQ: ROIAK and ROIA) today announced that it has created a new scheduling and ratings verification system for its Houston, Texas radio market which will provide a monthly accountability statement. Radio One decided to implement this system for its Houston market because of the MRC accredited methodology in use and the fact that Houston has had three years of experience with PPM technology, two in pre-currency and one in currency.
In Houston, Radio One proposes to monitor advertising schedules on a weekly basis and provide a monthly accountability statement after each PPM ratings period. Our expectation is that this will create a healthy dialog with advertisers on our Houston radio stations to ensure that the negotiated ratings are delivered in a timely fashion. Then, if our Houston stations fall short of ratings delivery, the GRPs can be made up within weeks, not months, of the advertising schedule, based on availability.
Commenting on this initiative, Barry Mayo, President of Radio, stated, "Radio One is pleased to be at the forefront of providing accountability to advertisers on our Houston radio stations. Our General Manager, Doug Abernethy, and his sales team have invested substantial time and effort in studying and understanding PPM's results in Houston and are willing to stand behind anticipated ratings delivery. This is a significant advantage to our advertisers and evidences our commitment to customer satisfaction."
Radio One has no current plans to expand this new service to other markets all of which employ a different methodology that has yet to receive MRC accreditation.
Radio One, Inc. (www.radio-one.com) is one of the nation's largest radio broadcasting companies and the largest radio broadcasting company that primarily targets African-American and urban listeners. Radio One owns 52 radio stations located in 16 urban markets in the United States. Additionally, Radio One owns Magazine One, Inc. (d/b/a Giant Magazine) (www.giantmag.com), interests in TV One, LLC (www.tvoneonline.com), a cable/satellite network programming primarily to African-Americans, Reach Media, Inc. (www.blackamericaweb.com), owner of the Tom Joyner Morning Show and other businesses associated with Tom Joyner, and Community Connect Inc. (www.communityconnect.com), an online social-networking company, which operates a number of branded websites, including BlackPlanet, MiGente, and Asian Avenue.
Cautionary Note Regarding Forward-Looking Statements
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. Forward-looking statements represent management's current expectations and are based upon information available to Radio One at the time of this release. These forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond Radio One's control, that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Radio One does not undertake any obligation to update any forward-looking statements.
SOURCE: Radio One, Inc.
Radio One, Inc.
Barry A. Mayo
President of Radio