Radio One $150 Million Stock Buyback

Radio One Inc., the company founded by Catherine L. Hughes said Monday that its board authorized the repurchase of up to $150 million Class A and Class D common shares over the next 18 months.

Radio One shares traded up 27 cents, or 2.1 percent, to $13.42 in recent Nasdaq trading. The stock, hit a 52-week low of $12.29 on May 18, $4.80 off its 52-week high of $17.09.

Radio One Inc., is the seventh largest radio broadcasting company in the U.S.(based on 2003 net broadcast revenue) and the largest company that primarily targets African-American and urban listeners. Radio One owns and/or operates 69 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.

Radio One Inc. Company Profile

Catherine L. Hughes Profile