Tag Archives: catherine hughes

Radio One

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by Morgan Craig

[1]

[1]

Radio One Inc.

1010 Wayne Ave. 14th Floor

Silver Spring, MD  20910

 Radio One, Inc founded in 1980 and officially incorporated in Delaware MD[1] is a multi-media company targeted towards African-American and urban consumers. In the U.S It is the largest African-American owned corporation of its kind. Specializing in radio broadcasting, the company presently owns and operates 55 broadcast stations in 16 of the country’s major urban markets. These markets include 6 of the top 10 Abitron ranked African-American radio markets in the U.S.: Atlanta GA, Washington D.C., Philadelphia PA, Houston TX, Dallas TX, and Detroit MI.[2] 

Radio One’s additional subsidiaries include: “TV One” LLC: a cable television network, Reach Media Inc: a cross media company which produces The Tom Joyner Show, “Interactive One” LLC: an online platform covering news and pop culture, and OneSolution the companies marketing and brand sales division. Radio One has received a number of revolutionary accolades including “first woman owned radio station to rank number 1 in any major market” and “first african-american radio broadcast company to champion several major markets.”[3]

History: Radio One was founded by the inspiring and passionate Catherine (Cathy) L. Hughes  in 1979. As a 16 year old mother Catherine Hughes was kicked out of her parents home and forced to fend for her and her child’s own well being. This tribulation sparked her tenacity to become the media mogul she is today.

[2]

[2]

Hughes was born in Omaha Nebraska in 1949. Her first experience with the radio industry was in 1969 when she scored a position at KOWH, a black radio station in Omaha. She was recognized by the Howard University of Communications in Washington D.C. for her accomplishments at KOWH and offered a job as lecturer and assistant to the dean in 1971. [4] In 1973 she became the general sales manager at the University’s radio station WHUR where she brought the stations revenue from $250,000 to 3 million in just her first year. By 1975 Hughes had become the Vice President and general manager of the station.

Eventually in 1980 with her husband of the time, Dewy Hughes, Cathy bought her own station; radio WOL-AM (D.C.) with a bank loan she finally attained after being rejected by 32 banks. [Here she curated her own content: “24-hour talk from a black perspective”. This marked the creation of Radio One. Her acquisition of WOL proved to be her most challenging but also most successful venture. After divorcing her husband shortly after buying the station, Cathy bought his share of WOL and therefore struggled a great deal financially.[5]In an effort to keep her business a float Cathy moved out of her apartment with her son Alfred C. Liggins and made a home at the radio station until 1986 when the station started making a profit. [6] In 1997 Cathy appointed her son Alfred C. Liggins III as CEO of Radio One.

[3]

[3]

After receiving an MBA from Wharton School of Business Alfred urged his mother to advance and go public with the company. On January 1st, 1999 Radio One Inc. (ROAI) went public with an offering price of $24 for 6,500,000 shares.[1] As compared to broadcast companies at the time such as Citadel and Beasley this was a large IPO.In the years that following1999 Radio One has acquired multiple subsidiaries and crossed platforms in an effort to expand their reach.

Properties:

[4]

[4]

TV One: On january 19, 2004 Radio One (51%) launched a joint venture with Comcast Corporation (49%) called TV One. TV One is a cable network which seeks to target the African-American consumer by providing news, sitcoms, reality TV, and big studio movies from an African-American perspective.[7] The stations most well known program Unsung tells stories of the most influential R&B and Soul artists of our time. As of August 2013 the station has proven to be present in over 57 million households (50.28% of households with a television).

[5]

[5]

Reach Media Inc: On February 3rd 2005 Radio One acquired 53.5% ownership interest of their current subsidiary Reach Media Inc. Located in Dallas, TX and founded in 2003 by Urban radio talk show host Tom Joyner, Reach Media is built around the strong marketing muscle that is the Tom Joyner Morning Show. The Tom Joyner Show is present in over 100 markets and reaches approximately 8 million listeners.[8] Reach Media seeks to create and manage  on-air and online content that entertains their consumers and provides a successful vehicle for advertisers.[9]

[6]

[6]

Interactive One: Radio One crossed the digital platform when they founded Interactive One (iOne) in 2007. [10] Interactive One operates several online brands targeted towards an African-American and latino audience including BlackPlanet.com: a social networking site, Hellobeautifull.com: a lifestyle site for black women, NewsOne.com a news source providing content pertaining to African-Americans, TheUrbanDaily: a pop culture/ entertainment media site, and GIANTlife.com: a celebrity focused news source. Interactive One’s headquarters are located in New York, New York.[11]

Executive Team: 

Catherine L. Hughes:  Founder, Chairperson, & Secretary

[7]

[7]

Alfred C. Liggins III:  CEO, President & Treasurer

[8]

[8]

Peter D. Thompson: Executive Vice President & CFO

 Linda J. Vilardo:  Vice President, Assistant Secretary & Chief Administrative Officer

Financials:

Radio One is indicated on NASDAQ as ROIA.

2013 Quarterly data shows that during the first and second quarters of the year Radio One saw an increase in earnings: Its March gross profit of $68,639 to its June gross profit of $86,705. It then took a steady decline however in the third and fourth quarters as its   September earnings were $81,112 and December earnings were $74,223. Despite the last half of the years quarterly decrease annually the company is seeing an increase from their final 2012 year gross profit of $288,599 as 2013’s annual gross profit is $310,679.[12] 50.2% of the company’s net revenue in 2013 was generated through radio advertising dollars. [13]Radio One has been seeing a steady increase annually since 2011.

News: 

[9]

[9]

April 16, 2014 – Radio One’s Advertising division One Solution received three bronze Telly awards for its 2013 ad campaign vignettes for Chevrolet Impala, Johnson & Johnson, and Walmart. [14]

April 14th, 2014 – Radio One will be hosting a conference call to discuss 2014’s 1st fiscal quarter. Investors, analysts and other interested parties are invited to join. The call is set to occur on May 8th, 2014 at 10:00 am EDT.[14]

[10]

[10]

April 9, 2014 – Radio One is partnering with Atlantic Records to provide one lucky listener from a radio one radio market with the chance to win a prom date with R&B singer Sevyn Streeter. 1,000 dollars towards prom expenses will be awarded to the winner, Sevyn will provide a musical performance during the event, and a limousine ride too and from prom will also be included.[14]

January 27, 2014 – Radio One is offering $335 million in aggregate principal amount of senior subordinated notes due 2020. The offering is exempt from registration under the securities act of 1933. The company says that they plan to use these proceeds to redeem its currently outstanding amounts under its senior subordinated notes due 2016.[14]

 

References:

1 .  http://ipo.findthebest.com/l/871/Radio-One-Inc

2. http://phx.corporate-ir.net/phoenix.zhtml

3. http://www.creativeanddreamsmusicnetwork.com/legends/cathy-hughes#.U1Uy9OZdW4I

4.   http://www.huffingtonpost.com/2012/08/17/catherine-hughes-radio-one_n_1798129.html

5. http://www.thehistorymakers.com/biography/cathy-hughes-39

6. http://www.mediabistro.com/So-What-Do-You-Do-Cathy-Hughes-Founder-of-TV-One-and-Radio-One-a11141.html

7. http://tvone.tv/inside-tv-one/about-tv-one.html

8. http://www.reachmediainc.com/

9.  http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=10714662

10. .http://interactiveone.com/10

11. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=47611884

12. http://finance.yahoo.com/q/is?s=ROIA&annual

13.http://quote.morningstar.com/stock-filing/Annual-Report/2013/12/31/t.aspx?t=XNAS:ROIA&ft=10-K&d=bc777893522a2104916cd6faf3130ea5

14.http://www.radio-one.com/latest-news/

Images:

1.http://media.corporate-ir.net/media_files/irol/63/63747/images/Radio_One_2008_Logo.JPG

2.http://www.radiofacts.com/wp-content/uploads/2013/06/cathy-hughes-corp-pic-111.jpg

3.http://i.huffpost.com/gadgets/slideshows/250187/slide_250187_1550334_free.jpg?1348183188887

4.data:image/jpeg;base64,/9j/4AAQSkZJRgABAQAAAQABAAD/2wCEAAkGBxQQEhQUEB

5.http://www.reachmediainc.com/graphics/logo.gif

6.  https://pbs.twimg.com/profile_images/1134594466/IO.jpg

7.  file:///Users/MaryMorgan/Downloads/cathy_2.jpg

8. http://www.wharton.upenn.edu/125anniversaryissue/img/lg/liggins.jpg

9.file:///Users/MaryMorgan/Downloads/OneSolution.png

10. Sevyn-Streeter-Diggin-On-You-TLC-Acapella-Cover-EXCLUSIVE.jpg

Radio One

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Radio One, Inc.


Location: Corporate Office – 1010 Wayne Ave.
14th Floor, 
Silver Spring, MD  20910

Web: www.radio-one.com

Executive Team: [2]

Founder, Chairperson and Secretary  – Catherine L. Hughes

CEO and President – Alfred C. Liggins, III

Exec. Vice President and CFO– Peter D. Thompson

VP, Assistant Secretary and CAO – Linda J. Vilardo

 

Overview:

Radio One, Inc. is an urban multimedia company primarily targeting African Americans. The company consists of four subdivisions: radio broadcasting franchise, Radio One; cable television network, TV One; cross platform media company, Reach Media; and internet companies Interactive One, an online platform and Community Connect, specializing in social networking. [5]

In regards to radio, the company is ranked number one among Black listeners with a weekly audience average of 19 million. It is the largest radio broadcasting franchise that targets an African American audience. [5] In 2011, it owned and/or operated 55 stations in 16 U.S urban markets including Atlanta, Houston, Washington D.C and many others. The company also has 9 nationally syndicated radio shows, expanding its geographic reach. [6]

 

History:

Catherine Hughes’ tumultuous life journey led her to found one of the most successful multimedia companies and become a great business example to African-Americans and aspiring businesswomen everywhere. Born to a scholarly family in 1947, Hughes took to radio and media at an early age. At 16, she became pregnant with her first child, Alfred Liggins Jr., and was disowned by her influential family. After a brief two-year marriage, Hughes decided to attend the University of Nebraska, Omaha and become involved with the campus radio station where she was quickly named general manager. She left the school early to become a lecturer and a general manager of WHUR at Howard University. There she perfected the Quiet Storm format, a collection of love songs played at late night. This would become a successful program format adopted by urban stations across the country in years to come. [8]

Catherine along with husband, Dewey Hughes, gathered $950,000 from personal savings, Syncom, an African-American venture capital firm, investors, and a bank loan to acquire WOL, a 1000-watt AM station located in DC. [8] The financial constraints and difficulty of making the station profitable broke up the Hughes marriage and Catherine bought out her ex’s interest in WOL. After bouts of poverty to keep the station afloat, Hughes’ son began to attract more advertising for the station and it turned its first profitable year in 1986. Using profits, Hughes began to  acquire other stations in urban markets across the East Coast and build the empire that would become known as Radio One. In 1999, the company went public with an IPO of $172 million. Using this and additional investors, Radio One acquired 12 additional stations from Clear Channel for $1.2 billion. [9] The company has continued its growth and has branched out to include other media sectors, most notably T.V One, a rival to Black Entertainment Television with a target audience of affluent African-Americans between 25-54. [8]

Financials (2012): [10]

Total Revenue: $424.57 Million

Gross Profit: $288.8 Million

Other Operating Expenses: $217 Million

Radio One Inc. continues to see increased revenue as the urban market continues to grow. Its primary revenue stream is local and national advertising sales on its radio stations. Boasting as the “urban media specialist,” Radio One offers advertisers effective ways to reach urban and African American audiences. Multiple program formats in key urban markets allow advertisers to reach intended demographics and lifestyles. In the company’s 2011 annual report, it notes the rising population, income, and Internet usage of African Americans as well as the growing influence of African American culture on mainstream American society.  Advertisers spent $748 million on Black radio in 2009 despite the economic recession. [11]

News:

2013 has been a relatively quiet year thus far for the company. Recent news stories include the renewing of popular programs on TV One including R&B Divas, Rickey Smiley Show, and Family Time. Other notable news stories include:

  • April 8, 2013 – Radio One Selects WideOrbit Inc.

Radio One selects WideOrbit Inc.’s WO Traffic system for its advertising sales, traffic, and revenue management. The system would allow the company “to view real-time, consolidated reporting, maximize revenue and inventory, and optimize performance across all of its stations and markets. “ [12]

  • April 2, 2013 – Acacia Subsidiary Enters License Agreement with Radio One

Acacia Research Corporation, which licenses patents to corporations and share the revenue [14], entered into a license agreement with Radio One as part of its settlement with district courts in the Southern District of New York and the Northern District of Illinois. [15]

  • March 5, 2013 – Radio One Launches Telemundo Affiliate

Radio One’s WDNI Channel 19 in Indianapolis will launch the market’s first Spanish-language broadcast station. It will feature Telemundo’s full line-up of original programming. [17]

References:

[1] http://www.frequencynews.com/wordpress/wp-content/uploads/radio_one_logo2.gif

[2] http://www.radio-one.com/about-us/who-we-are/

[3] http://www.blackeconomicdevelopment.com/wp-content/uploads/2010/12/cathyhughes_1.jpg

[4] http://www.radiofacts.com/wp-content/uploads/2012/12/Radio-One-Alfred-Liggins.jpg

[5] http://www.radio-one.com/about-us/

[6] http://topics.nytimes.com/top/news/business/companies/radio-one-inc/index.html

[7] http://i.huffpost.com/gen/788993/thumbs/r-CATHY-HUGHES-AND-SON-large570.jpg

[8] http://www.fundinguniverse.com/company-histories/radio-one-inc-history/

[9] http://streamingradioguide.com/blogradio/?page_id=707

[10] http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=ROIA&dataset=incomeStatement&period=A&currency=native

[11] http://www.radio-one.com/investor-relations/sec-filings/

[12] http://www.marketwatch.com/story/wideorbit-traffic-selected-by-radio-one-for-its-55-broadcast-stations-that-span-16-urban-markets-2013-04-08

[13] http://tctechcrunch2011.files.wordpress.com/2009/08/wideorbit.png

[14] http://www.acaciaresearch.com/pr/040113b.pdf

[15] http://www.ipwire.com/ip-deals-and-opinion/acacia-subsidiary-enters-into-settlement-and-license-agreement-with-radio-one.html

[16] https://si0.twimg.com/profile_images/664552302/Telemundo.jpg

[17] http://www.radio-one.com/2013/03/06/radio-one-launches-telemundo-affiliate-in-indianapolis/

 

Radio One

Posted on by 
Greg Jacks

[1]

 “THE URBAN MEDIA SPECIALIST”

1010 Wayne Ave. 14th Floor

Silver Spring, MD  20910

 

 

Basics

[2]

Radio One, Inc. is the largest urban-centered multi-media outfit primarily targeting an African-American audience in the world. They own and/or operate 55 broadcast stations in 16 major U.S. markets including: Washington D.C., Philadelphia, and Atlanta. The genres of their stations include: gospel, mainstream r&b/soul, hip-hop, and classic r&b. Radio One also has majority ownership of TV One, LLC (a black-    oriented cable channel), Reach Media, Inc, and Interactive One (a series of online platforms serving the black community). [1]

History

[3]

In college, Catherine Elizabeth Hughes, founder and chairperson of Radio One, developed the now highly popular format called Quiet Storm; a late-night show specializing in urban contemporary ballads. Following the success of this new format, Hughes sought to own a station of her own. After many attempts to drag money together, Hughes and her husband finally managed to buy their first radio station in 1980. The station was first called Almic Broadcasting, and started as a 24-hour news broadcast for Washington D.C.’s black community. By the late 80s, Hughes had handed down the position of president to her son Alfred C. Liggins III, who helped propel the company to new heights. Throughout the 90s, Radio One was buying up locally-owned radio stations in city markets and turning them into urban stations. The success of this period, made Radio One the media conglomerate that it is today. [2]

Key Executives

[4]

Alfred C. Liggins, III – Chief Executive Officer, President, and Treasurer

Liggins has been C.E.O. of Radio One since 1997 after being promoted by his mother. He has helped the company expand into new markets and media. He was a graduate of the Wharton School of Business at the University of Pennsylvania. Since taking over the company from his parents, Liggins has done nothing but shine, now one of multimedia’s top young moguls. [3]

[5]

Catherine L. Hughes – Chairperson of the Board of Secretary

Hughes co-founded the company in 1980, and has served with it ever since. She has held various titles within the company: C.E.O., President, General Manager, General Sales Manager and talk show host. Outside the company, Hughes has been on the Board of Directors for a myriad of groups including Broadcast Music, Inc. Her 30 years business experience has saved her a special place in the African-American community. [4]

 

Owned Station Samples

                                 Urban AC – Washington                    Gospel – Atlanta                   Hip-Hop – Philadelphia                       News/Talk – Houston                    Old School Jams – Dallas            Black Talk – Baltimore

*All images in section taken from website links. Source is the radio station’s main web page

Properties

TV One

[6]

Launched in 2004, TV One is a cable channel which delivers reality and scripted programming to the African-American consumer. Through sitcoms  real life TV, recorded movies, and news specials, TV One attempts to understand the diverse experience of black life. In 2008, TV One went HD and debuted their now trademark show, Unsung, a biography series focusing on the lives of great R&B musicians. [5]

[7]

Reach Media, Inc.

An atypical media company, REACH Media was founded by Tom Joyner (the nation’s number 1 syndicated radio host). The company is built off the success of The Tom Joyner Morning Show which airs in more than a hundred markets reaching eight million listeners. REACH Media provides a highly popular platform for advertisers to relay messages to the black community. The company also operates several web-based media, namely The Black America Web. [6]

Interactive One

[8]

Interactive One was launched in 2007 to serve as a digital network for Radio One’s African-American community. Now, the site is the number 1 black online platform, serving 9 million monthly users. [7]

 

Recent News [8]

[9]

Jan. 22, 2013 – TV One’s most watched reality series, R&B Divas, is getting renewed for a second season. Also a spin-off, R&B Divas: LA, is in production and set to launch in Q3 2013

Jan. 24, 2013 – TV One adds the original half-hour sitcom Family Time to its classic Friday comedy block

Jan. 28th, 2013 – Radio One announces that Samuel Rogers, formerly of CBS Radio, has been named VP of National Sales.

Feb. 25th, 2013 – TV One announces the debut of its new docu-series, Deceived. It chronicles the stories of those who have been conned or betrayed.

[10]

Mar. 5, 2013 – Radio One’s launches a Telemundo affiliate with the purchase of WDNI in Indianapolis. The station will become the city’s first local Spanish-language broadcast station on March 11.

Mar. 18, 2013 – TV One orders for a second season of the record-breaking summer sitcom, The Rickey Smiley Show.

Apr. 8, 2013 – Radio One has chosen WideOrbit to system the traffic for all 55 of their stations [9]

 

Financials

Unlike most radio affiliates today, Radio One is doing quite well and seeing growth in their company. Their 2012 fourth quarter radio revenues were up 11% from the previous year. TV One also saw Q4 increases, with sales up 8% from 2011 [10]. It seems the growing minority population in this country was had a dramatically beneficial effect on Radio One and its comprising affiliates. It can operate and flourish, despite providing niche programming, for only a segment of the American people.

Stocks

Radio One, or ROIA as it is listed on the NASDAQ, has seen a sharp increase in stock price just since the start of this year. It went from trading at around $0.75 in December of last year to $1.75 in April of 2013. At the market’s close today, April 8th, ROIA is selling at $1.76 a share. [11]

[11]

 

Sources

1. “About Us | Radio One.” Radio One. N.p., n.d. Web. 09 Apr. 2013.

2. “Radio One, Inc. History.” History of Radio One, Inc. – FundingUniverse. N.p., n.d. Web. 09 Apr. 2013.

3. “Radio One’s Number One.” Wharton Alumni Magazine: 125 Influential People and Ideas: Alfred C. Liggins. N.p., n.d. Web. 09 Apr. 2013.

4. “Catherine L. Hughes.” Radio One. N.p., n.d. Web. 09 Apr. 2013.

5. “TVONE.” About TV One. N.p., n.d. Web. 09 Apr. 2013.

6. “REACH Media | Radio One.” Radio One. N.p., n.d. Web. 09 Apr. 2013.

7. “Interactive One | Radio One.” Radio One. N.p., n.d. Web. 09 Apr. 2013.

8. “Latest News | Radio One.” Radio One. N.p., n.d. Web. 09 Apr. 2013.

9. “WideOrbit Traffic Selected By Radio One For 55 Stations.” All Access. N.p., n.d. Web. 09 Apr. 2013.

10. “News Releases | Radio One.” Radio One. N.p., n.d. Web. 09 Apr. 2013.

11. “Stock Information | Radio One.” Radio One. N.p., n.d. Web. 09 Apr. 2013.

Images

1. http://www.radio-one.com/

2. Kysdc Staff. “Radio One Erects Sign Above New Silver Spring Headquarters.” 93.9 KYS FM. Radio One, 28 Jan. 2012. Web.

3. King, Morgan. “Cathy Hughes: Finding A Way Or Making One.” Visionary Artistry Magazine RSS. Radio One, 18 Apr. 2011. Web. 09 Apr. 2013.

4. “Interactive One LLC » Alfred C. Liggins III.” Interactive One LLC RSS. N.p., n.d. Web. 09 Apr. 2013.

5. Odessey, Bruce. “RADIO ONE: A SMALL BUSINESS THAT GREW LARGE.”Small Businesses at Work. InfoUSA, n.d. Web. 09 Apr. 2013.

6. “TVONE.” Homepage. N.p., n.d. Web. 09 Apr. 2013.

7. “REACH Media Inc.” Homepage. N.p., n.d. Web. 09 Apr. 2013.

8. “Interactive One.”Homepage. N.p., n.d. Web. 09 Apr. 2013.

9. “Faith Evans & The R&B Divas Share Some ‘Joy’ & ‘Lovin’ With You » SOULBOUNCE.COM.” Faith Evans & The R&B Divas Share Some ‘Joy’ & ‘Lovin’ With You » SOULBOUNCE.COM. N.p., n.d. Web. 09 Apr. 2013.

10.”TV One: The Rickey Smiley Show.” Homepage. N.p., n.d. Web. 09 Apr. 2013.

11. “Stock Information | Radio One.” Radio One. N.p., n.d. Web. 09 Apr. 2013.